Average monthly investments in BTC since 2017 amounted to $ 400 million

Average monthly investments in BTC since 2017 amounted to $ 400 million

According to the calculations of the anonymous analyst PlanB, since October 2017, the price of BTC has been supported by monthly investments of at least $ 400 million.

Anonymous cryptocurrency analyst PlanB believes that investments in bitcoin have been more significant in recent years than previously thought. In his opinion, the price of BTC may soon rise significantly.

PlanB explains on Twitter that to keep the price of BTC at least $ 7,000 since October 2017, it was necessary to buy cryptocurrency worth about $ 400 million per month. He wrote:

“In order to keep the price at $ 7000 since October 2017, over the past 2.5 yearsBitcoin had to receive about $ 400 million in new inflows every month! (30 days x 24 hours x 6 blocks x 12.5 BTC x $ 7,000, assuming all trading is a zero-sum game). After the halving, we only need $ 200 million a month to maintain the $ 7,000 level. If the inflow stays at $ 400 million, the price will skyrocket. "

A number of factors may explain why no one has previously paid attention to such a volume of fiat currencies coming into BTC. For example, no one knows how mucBTC is permanently blocked due to the loss of keys or physical wallet media. In addition, a large amount of notoriously inaccurate stock data can hide the true market capitalization of bitcoin.

On the other hand, the growth of the number of "hodlers" who do not display their coins on exchanges can also support bitcoin. Thus, the reduction in supply reduced the need for a constant flow of fiat money.

The key takeaway from this observation is that the impact of halving miner rewards will be significant. Eliminating 900 BTC per day from mining will change the market dynamics that have determined the value of Bitcoin over the past four years.

Cryptocurrency companies continued to buy each other in the past year, according to a recent PwC report, but overall funding for the industry has declined, suggesting a decline in institutional investor interest. However, given the clear interest of casual users, there is no doubt that the retail market will remain strong.

Most likely, there will be a lot more investments in Bitcoin in the near future, which could help transform BTC and other cryptocurrencies from objects of speculation to tools for everyday payments.

Sensorium Corp. and KuCoin Exchange Distribute 40,000 USDT in SENSO Tokens!

KuCoin and the Sensorium project mark the listing of the SENSO token in three phases. In the first stage, verified KuCoin users will receive 200,000 SENSO.

Start time of the first stage: April 8, 11.00 Moscow time.

 30,000 SENSO (about 6,000 USDT) will receive 100 new KuCoin users who will buy the most SENSO during the campaign. Register and quickly pass KYC before the announcement of the result of the competition! The net purchase amount (i.e. less sales and withdrawals) must exceed 100 SENSO.

 50,000 SENSO (about 10,000 USDT) for the Top 20 users who will buy the most tokens. Each winner will receive a share of the total pool of 50,000 SENSO in proportion to their net purchase volume: (net purchases of the user / total of net purchases of the top 20 users) × 50,000 SENSO.

120,000 SENSO (about 25,000 USDT) for holders!

We will evenly distribute a pool of 120,000 SENSO tokens among verified KuCoin users who have a net purchase volume of more than 200 SENSO during the campaign. Each of the 800 winners will receive 150 SENSO!

Start trading!

Central Bank of China announced the "unconditional" continuation of the digital yuan project

The People's Bank of China has made one of the loudest announcements to date regarding its plan to launch a digital version of the yuan, CoinDesk writes.

“The People's Bank of China will certainly continue research and development work on the national digital currency with a command-and-control approach,” the regulator said on April 4.

The notice was issued following a currency conference hosted by Central Bank Vice Governor Yifei Fan on Friday. One of the objectives of the conference was to set priorities for the central bank for the current year.

Digital Currency Electronic Payment System (DCEP) has been mentioned at least three times at similar annual meetings. However, the wording in the latest statement suggests that over time, the Chinese central bank's desire to issue the digital yuan has only grown.

In 2018, the bank announced that it would develop the project “at a constant pace”. Last year, the regulator promised to “speed up” the process in light of the latest trends in the cryptocurrency space in its jurisdiction and abroad.

Although the development of the digital yuan has been going on for several years, the coronavirus pandemic and related concerns about the use of paper money could have forced the People's Bank of China to re-prioritize and accelerate the development of the initiative once again. In mid-February, he released about 600 billion yuan of new banknotes on the market, while ordering the old ones to be quarantined for 7 to 14 days for disinfection.

In March, it became known that the Central Bank of China completed the development of the basic functionality of the digital currency and is now preparing the necessary legislation for its release into circulation.