Golden Observation｜The market is hot, and Bitcoin stands at $19000

November 24th must be one of the few days worth recording in 2020, because today's mainstream currencies soared, many currencies exceeded 15%, and a few reached 50%. The most important thing is that Bitcoin stood on the top of the market for the first time in two years. $19,000.

The market seems to have entered a crazy stage. During the day when the mainstream currencies soared, Bitcoin and Ethereum also experienced short-term diving, but the short-term diving could not match the enthusiasm of the market.

From Grayscale's continuous increase in holdings to Ethereum's rapid completion of the 2.0 phase 0 deposit threshold today, the enthusiasm is really high. This article will take stock of the news that drives enthusiasm today. The market is changing rapidly, and investment must be cautious.

1. At 3:59, according to the ETH2 block browser beaconcha.in data, the current Ethereum 2.0 deposit contract address balance has reached 404,192 ETH, which is 77.09% from the minimum requirement of 524,288 ETH to start the Ethereum 2.0 genesis block.

Jinse Finance Mining Data Broadcast | BTC’s total network computing power dropped by 4.51% today: Jinse Finance reported that according to the data from Spider Mining Pool:

The computing power of the BTC network is 113.064EH/s, the mining difficulty is 19.99T, the current block height is 655066, and the theoretical income is 0.00000767/T/day.

The computing power of the entire ETH network is 267.162TH/s, the mining difficulty is 3319.49T, the current block height is 11174806, and the theoretical income is 0.00595503/100MH/day.

The BSV network computing power is 1.307EH/s, the mining difficulty is 0.20T, the current block height is 659480, and the theoretical income is 0.00068885/T/day.

The computing power of the BCH network is 2.234EH/s, the mining difficulty is 0.32T, the current block height is 659722, and the theoretical income is 0.00040277/T/day. [2020/11/2 11:24:39]

2. As of November 23, the total asset management scale of Grayscale reached 11.7 billion US dollars. The Bitcoin Trust (GBTC) traded at $22.13 per share, up 4.19% from the previous day; the Ethereum Trust (ETHE) traded at $97.95 per share, up 25.18% from the previous day.

Jinse Finance Market Report｜BTC fluctuated within a narrow range, and local market was weak: According to Huobi market, BTC fluctuated slightly and fell today, with the lowest reaching 9092USDT, and local market was weak. The price on the daily chart returned to the 9130USDT range platform, and the MA30 third line pointed downward. In 4 hours, it is in a state of falling wedge-shaped gaining momentum, but its historical market is easy to break through upwards. The 1-hour chart has repeatedly dipped and rebounded, and the bulls may counterattack. As of 10:00, the specific performance of the mainstream coins on the Huobi platform is as follows. [2020/7/1]

3. At 8:27, V God tweeted that the Ethereum 2.0 deposit contract has now reached 460,000 ETH (reaching ~87.7% of the target), and there are still 12 hours until the earliest possible start time. The genesis launch will take place 7 days after activation, and 524,288 ETHs are required for activation.

Golden Relativity | Qin Wenyan: Proto-blockchain projects must have sufficient cash flow for long-term survival: In this issue of Golden Relativity, Qin Wenyan, chairman of the North American Blockchain Foundation and founder of Nujuchain, said: Proto-blockchain projects need to be long-term The deposit must have sufficient cash flow, the best is its own hematopoietic function, which is the reason why the blockchain should be implemented in the industry. Without industry support, it is difficult to have enough cash flow to support the research and development of the elemental blockchain. Here are some ways to ensure cash flow:

1. Facing the "coin reform" carefully, many early original blockchain projects rely on the underlying technology of the blockchain to issue coins to many traditional companies to obtain cash flow, but now this road is actually going very hard, and financing is difficult In the P2P disaster that has been and is happening.

2. Pragmatically promote the "chain reform" of traditional industries. Of course, this "chain reform" is broadly defined, that is, to empower traditional industry blockchains, through in-depth technology output, rapid cash return, and empower the healthy growth of real industries.

3. Creatively realize the breakthrough of the blockchain's own platform and products, and the breakthrough of the business model, similar to the early Ethereum cats, etc., the blockchain technology itself is very innovative, and it can create new products and services just needed by the society , so that the enterprise will gain the recognition of the society and the market and get money directly from the market, and investors will automatically flock to it.

Looking back on historical experience, the unicorns of the era were all born when the general situation was not good. For example, the rise of Google, Facebook, and Ali all happened after the Internet "bubble" burst. In the current environment where the token market is sluggish and financing is regulated, if blockchain innovation companies want to achieve long-term survival, they need to increase revenue and reduce expenditure; enrich the content-zce of community operations; promote the construction of the main chain; adhere to the direction of application implementation, and let themselves remain. [2018/9/7]

4. At 10:26, according to OKLink data, the current Ethereum 2.0 deposit contract address has received 524,288 ETH, meeting the minimum requirements for starting the Ethereum 2.0 genesis block. The Ethereum 2.0 mainnet is expected to officially launch on December 1, seven days after meeting the minimum requirements.

Jinse Finance Exclusively Organizes How does the trade war affect the trend of Bitcoin? Trade War Hedging, Bitcoin 'Working Well':

In the early hours of this morning, the largest trade war in the history of China and the United States broke out, global stock markets plummeted, and the trend of the digital asset Bitcoin was discussed again. Revisiting Brian Kelly's remarks about the trade war on CNBC as early as March 2: The trade war will strengthen the expectation of dollar depreciation and rising prices. Due to general concerns about inflation, people are willing to invest in "new gold" and "hard coins" like Bitcoin. Assets" (safe haven), "Bitcoin works well in trade war".

Brian Kelly's opinion was published under the forecast of the scale of the trade war of 30 billion US dollars, and now 6 million "intensified". China has launched a "counterattack" this morning, and foreign media generally predict that the United States will be the long-term loser. The decline in the stock market will support gold. Gold prices closed at a two-week high yesterday due to concerns about interest rate hikes and trade wars. Why did Bitcoin fall instead? According to CNBC: Bitcoin failed to hold the $9,000 mark or it may be due to Japan's policy of strengthening supervision of encrypted digital currencies. Jinse Finance believes that since the policy is still the main factor affecting Bitcoin, after the introduction of international regulatory measures and the gradual stabilization of the policy in July this year at the latest, the price of digital currency will gradually maintain similar fluctuations with the rise and fall of gold. [2018/3/23]

5. According to the headline report on the front page of the Wall Street Journal on the 23rd, the Wall Street Journal published an article stating that BTC trading volume is approaching a record and is attracting more support. The article pointed out that Bitcoin has been supported by "Wall Street billionaires" Paul Tudor Jones and Stanley Druckenmiller, among others. In addition to substantial investments from hedge fund managers and Grayscale Investments, the Wall Street Journal also highlighted growing demand from retail investors, saying they can now access crypto assets through familiar financial services firms.

6. Michael Sonnenshein, managing director of Grayscale Asset Management (Grayscale Investments), said that in 2020, "Grayscale has experienced unprecedented capital inflows." “2019 was also a record year, and that momentum has continued into 2020,” said Sonnenshein. “During the third quarter, Grayscale raised more than $1 billion in funding, and we’re excited to share: Two-thirds of the way into the fourth quarter, we've seen that momentum build."

7. According to Brian Estes, chief investment officer and founder of hedge fund Off the Chain Capital, it is not difficult to increase from $18,000 to $100,000 within a year. He said, I have seen Bitcoin go up 10 times, 20 times, 30 times in a year. So a 5x increase is no big deal. Estes, using a model based on the stock-to-flow ratio to measure the scarcity of commodities such as gold, predicts that Bitcoin will reach between $100,000 and $288,000 by the end of 2021, adding that this model has a 94% correlation with the price of Bitcoin. %.

8. Alfred Kelly, chairman and CEO of Visa, said that one of the future areas of focus is the application of "virtual currency" as a payment method, rather than using it as a commodity. He said that virtual currency is an area of continuous development in the payment field. We view virtual currency as a currency rather than a commodity, which shows the possibility of its use as a means of exchange. In addition, Visa has partnered with 25 companies to provide services that enable payments in virtual currency from virtual currency wallets at stores that introduce Visa payments.

9. PayPal CEO Dan Schulman said in an interview with CNBC Squak Box on the 22nd that the practicality of Bitcoin as a currency will eventually overwhelm the idea of ​​buying and holding. He said, "I think there will be more and more use cases for cryptocurrencies, which will make bitcoin more widely accepted, more stable, and probably more valuable over time."

In addition, he also said that central bank digital currency is a global necessity. When this happens, the utility of cryptocurrencies will increase, and both may play an important role in the future. According to previous reports, starting early next year, PayPal will allow users to use cryptocurrencies as financing tools for transactions in 28 million businesses. Schulman said that what the platform allows is not only to make it easy to buy, sell and hold cryptocurrencies, but very importantly, early next year, it will allow cryptocurrencies to be a source of funds for any transaction on 28 million merchants, which will Greatly enhance the utility of cryptocurrencies.

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