As Business Insider reports, Son said he invested 1% of his assets in Bitcoin some time ago, following a friend’s suggestion.

The problem is that he had made this investment at the end of 2017, i.e. in the middle of a speculative bubble, and although neither the price at which he had purchased nor the amount of BTC purchased is well known, it is estimated that the investment was about $200 million.

However, at the end of December 2017 the speculative bubble burst, and from its peak of over $20,000 on December 17, the price of Bitcoin fell to $6,000 at the beginning of February 2018.

Son then claimed he did not understand Bitcoin well and spent a lot of time monitoring its price movements after investing.

In fact, he said he spent about five minutes a day, every day, observing Bitcoin price fluctuations, which would distract his concentration from his business.

At one point, he decided that he got tired of checking the price of bitcoin every day and decided to get out of it.

Unfortunately for him, during the course of 2018 the price of bitcoin did not return to the highs at the end of 2017, so he was forced to sell at a loss.

He claims to have lost about 50 million dollars, but according to a reconstruction of the Wall Street Journal he lost almost 130 million dollars.

Despite the loss, he said he felt much better to have gotten out of this investment, but at the end of 2020 the price of BTC went back to highs.

In other words, if he had waited another two years or so before selling, he would not have lost it and perhaps even could have gained something from it.

Softbank CEO and Bitcoin’s FOMO

This story is incredible, but it is much closer to reality than it can appear to those who are not in this world.

First of all, unfortunately, it is very common that people who know little about BTC are enticed by the purchase during a speculative bubble, that is, driven by an excess of euphoria, due to a sudden and significant increase in value.

The so-called Fear Of Missing Out (FOMO) is a powerful stimulus that blurs the reason, and leads to reckless actions, such as buying at very high prices.

Moreover, the nagging for the continuous control of the price, during the bullish phases, often grips who has bought at high prices, and in this simply Son, despite his experience, was no exception.

Investors with more experience in this field know that it is better to set long-term goals, unless you want to trade intraday, and patience often pays off when it comes to bitcoin investments.

Finally, Son proves once again, and even more so, that to invest in bitcoin you really need to have nerves, and a lot of calm. Emotions, including impatience, can cause a lot of damage, not only financially.

For this reason it is always advisable to study this type of asset very well before deciding to expose yourself to it.

The decision on a digital euro could take a long time.

The financial authorities in Europe could work out an investigation plan for a digital euro as early as next year, according to a manager at the European Central Bank

Holger Neuhaus, Head of the Department for Market Innovation and Integration at the ECB, took part in the Singapore FinTech Festival 2020 on December 7th and spoke about the global development of digital central bank currencies (CBDCs).

In the online discussion, Neuhaus claimed that the ECB expects the European tax authorities to check by mid-2021 whether they want to work on a digital euro:

„In mid-2021 the euro system will examine whether a project for a digital euro should be launched. But I would like to emphasize that this would only be an investigation phase and not a decision. That would basically enable us to actually work out a plan. Then we would talk about what a digital euro could be, what it could look like, how it could be implemented and whether and when a political decision would be made. “
Neuhaus emphasized that a digital euro would only complement, not replace, cash or large customer central bank deposits. He also noted that central bank digital currencies would pose major challenges when used overseas, particularly with regard to cash flow management and relative compensation issues.

„This is where it becomes difficult and we have to think about how we can limit that. With fixed limits, be it with incentive systems or other possibilities,“ says Neuhaus.

Regarding CBDCs in Europe, Neuhaus also spoke about the ECB’s public consultation on a possible digital euro. This consultation was published in mid-October 2020 and aims to collect feedback from public and private people to assess whether Europe needs a digital euro.

In November 2020, ECB President Christine Lagarde asked the bank to make a decision on the introduction of a digital euro in January 2021.

La criptomoneda líder parece imparable después de alcanzar un nuevo récord histórico.

Bitcoin subió a un nuevo máximo histórico por primera vez desde mediados de diciembre de 2017. Si bien aumenta la especulación sobre mayores ganancias en el horizonte, múltiples métricas en la cadena apuntan a una fuerte caída.

Rompiendo nuevos máximos históricos

Bitcoin logró recuperar todas las pérdidas incurridas después del retroceso del 17% del 25 de noviembre.

A pesar de que más de 200,000 comerciantes fueron liquidados durante la corrección más reciente en el mercado de criptomonedas, los inversionistas no esperaron mucho para volver a ingresar a sus posiciones largas.

El aumento en la presión de compra hizo que BTC aumentara en más del 22%. Pasó de cotizar a un mínimo de $ 16,200 el 26 de noviembre a alcanzar un nuevo máximo histórico de $ 19,860.

Paolo Ardoino , CTO de Bitfinex, sostiene que la reciente acción del precio se puede atribuir a la creciente demanda entre los inversores institucionales

“El ascenso de Bitcoin hoy a un nuevo máximo histórico de $ 19,844 cautivará. Aún así, los fundamentos que dan combustible a este repunte son mucho más importantes, en particular, la presencia cada vez mayor de inversores institucionales. Bitcoin todavía es incipiente, e incluso las asignaciones relativamente pequeñas en la clase de activos de los fondos de inversión pueden tener un impacto sísmico „.

Si la presión de compra continúa aumentando , Bitcoin podría subir a $ 23,000.

Un cierre de velas de 4 horas por encima de $ 19,500 agregará credibilidad a la perspectiva optimista, ya que aumenta las posibilidades de este potencial repunte.

The BTCD follows a long term resistance line.

The rate is facing resistance at 66.5% and has support at 62.5%

Technical indicators are bullish but have short-term weaknesses.

The Trust Project is an international consortium of news organizations based on transparency standards.

The Bitcoin Billionaire dominance rate (BTCD) reached an important resistance area, which will likely result in rejection. Despite its ongoing rally since September, it is not yet clear whether the long-term trend is bullish or not.

Long-term resistance

The BTCD has been rising since early September and has just reached a descending resistance line in place since July 2019. This is the fourth time it has validated this resistance line.

In addition, the line coincides with the fibonacci level 0.618 of the entire decline, which increases its importance. If the price were to be rejected, the closest major support area would be 62%.

Despite the ongoing rally, technical indicators have not yet taken a resolutely bullish turn. The RSI has moved above 50 but the MACD is below 0, and the Stochastic Oscillator has yet to generate a bullish cross.

Therefore, we cannot predict with certainty that the rate will break through its current resistance.

Cryptocurrency trader @ anbessa100 shared a chart of the BTCD, claiming that the rate has finally reached the resistance of 66.5%. This area coincides with the descending resistance line that we have highlighted, and could serve as a top.

In order to determine if this theory is plausible, it is necessary to look at smaller time scales.

Next move

The daily chart shows that the 66.5% area has served as support previously as well, making it all the more significant.

Despite this parabolic rally, technical indicators have yet to show any weakness, even though they are showing overbought conditions.

Large investors continue to accumulate ChainLink (LINK) crypt currency. The Santiment team has recorded a new surge in the activity of so-called „cryptokits“ that accumulate large volumes of digital currency.

In October, the number of LINK tokens was the highest Bitcoin Trader reviews in 2020 under control of such players. Off-exchange whale wallets now hold 648.6 million coins.

At the same time, the price of ChainLink has risen. Over the past three days, token prices have risen from $9.7 to $12.5. The increase in the value of altokoin was almost 28%.
The lion’s share of the cryptovolta was accumulated by the addresses of ten largest investors. The last time a similar situation was observed on July 1, 2019.

Researchers stress that the ongoing accumulation indicates that the „whales“ are confident in the giant potential of altoin, which over the past year has shown very good results.

Periodic kickbacks do not affect the fundamental performance of the cryptographic currency, analysts say.

In September Zeus Capital published a report stating that the ChainLink rally was the result of aggressive pumping. The recent pullback was supposedly direct proof that we were seeing an ordinary bubble that started to deflate.

However, subsequent events disproved this team’s point of view, and the coin began to strengthen its position again.

Coinbase Wallet has integrated Layer-2 solutions from Ethereum’s testnet Optimistic.

Vitalik Buterin said wallets are the top priority in terms of scaling.

The Optimism testnet is already active on Synthetix

The Trust Project is an international consortium of news organizations based on transparency standards.

Coinbase, a giant cryptocurrency exchange, recently implemented a Layer-2 (L2) scaling solution. This will allow for faster and cheaper transactions on BitQT from its wallets, as this technology begins to be deployed on a larger scale.

An announcement made on October 14 revealed that Coinbase’s wallet fits into the Optimism’s Optimistic Rollup test network. It won’t be on the exchange itself, but on the non-private wallet and dApp browser to allow users to view balances and make transactions on the Optimist Network.

The company said it was excited to help help Ethereum evolve:

We have integrated local support to testnet

OptimismPBC, to help early adopters test Optimist Rollups on the Coin Database Wallet. Rollups offer fast, inexpensive, and scalable app transactions.

We are happy to contribute to the expansion of Ethereum!

Optimistic for ETH 2 network

Plasma Group’s Layer-2 developers announced the launch of their Optimism testnet for Ethereum in late September. The team has developed a system called OVM, which is a fully-featured Ethereum Virtual Machine (EVM) compliant runtime environment designed for Layer-2 systems.

The end goal is to reduce congestion on the Ethereum network, which is essential for the future growth of the ecosystem. Over the past few months, Ethereum users have come to grips with how demand can cause congestion, causing transaction fees to skyrocket .

On two occasions in September, the average price of gas hit double-digit levels as DeFi investors took advantage of the latest yield mining incentives . At the time of this article’s layout, the average transaction fee had dropped to around $ 2, which is still far too high from a practical standpoint.

In her latest Defiant update, industry expert Camila Russo observed that Coinbase is the second major centralized exchange after Bitfinex to announce plans to pull some of its trades off the Ethereum main chain.

At the ETHG World Summit, Ethereum co-founder Vitalik Buterin highlighted the need to push wallets as the primary target for the migration to rollups.

When it comes to migration to rollups, the majority of the answer lies in a holistic approach at the ecosystem level, the first target being the portfolio.

Expanding Layer-2 options

Optimistic’s OVM was first tested on Uniswap’s Unipig Layer-2 decentralized exchange, launched for demo at the end of 2019.

The DeFi Synthetix protocol was the system’s first real test when it launched testnet to the public at the end of September, offering 200,000 SNX as a reward to participants.

The second phase of the testing process was launched on October 14. In particular, it enabled the deposit of SNX test tokens by airdrop and the migration from L1 to L2.

The good folks at @CoinbaseWallet have added Synthetix support on Ethereum’s L2 OptimisticPBC testnet for Android and iOS!

Other L2 solutions are already in operation, such as Matter Labs zkSync payment gateway, Ethereum zkRollup Loopring exchange and payment protocol, and plasma-enabled OMG network.

Bitcoin auf dem Weg zu 100.000 Dollar, sagt Mike McGlone, Geheimdienst-Analyst von Bloomberg

• Die Reifung von Bitcoin zu digitalem Gold
• Nicht so optimistisch bei Ethereum

Mike McGlone, ein hochrangiger Rohstoffstratege für Bloomberg Intelligence, bleibt unerbittlich optimistisch gegenüber Bitcoin.

In seinem Krypto-Währungsausblick bei Bitcoin Circuit für Oktober hat McGlone die wichtigsten Highlights in einem kürzlich veröffentlichten Tweet mitgeteilt – der Analyst behauptet, dass die führende Krypto-Währung auf dem Weg sei, im guten Wege.

Die Reifung von Bitcoin zu digitalem Gold

McGlone, der den Risikokapitalgeber Tim Draper kanalisiert, geht davon aus, dass die zunehmende Akzeptanz der Programme der wichtigste Katalysator für die Wertsteigerung sein wird.

Sein Aufstieg in die sechsstellige Realität wäre eher ein langsamer Mahlgang als der von der Gemeinschaft erwartete Mondschlag über Nacht.

In der Septemberausblicke machte McGlone eine wilde Vorhersage, dass Bitcoin’s begrenztes Angebot von 21 Mio. Münzen und die wachsende Nachfrage das „digitale Gold“ schließlich auf 500.000 $ drücken könnte, ohne einen genauen Zeitrahmen anzugeben.

Der Benchmark-Krypto hat das Adoptionsrennen unter den unzähligen Nachahmern gewonnen und reift zu einer digitalen Version von Gold heran.

Zu diesem Zeitpunkt würde die Krypto-Währung, mit der alles begann, die derzeitige Marktobergrenze für tatsächliches Gold, die derzeit bei etwa 8 tln $ liegt, ersetzen.

Bitcoin erreichte am 17. Dezember 2017 seinen Höchststand von etwa 326 Mrd. USD, bevor es im Dezember 2018 während des brutalen Krypto-Winters auf nur 60 Mrd. USD schrumpfte.

Nicht so optimistisch bei Ethereum

Bitcoin war der Vermögenswert mit der besten Performance des letzten Jahrzehnts, aber Anleger sollten sich vor der Tatsache hüten, dass vergangene Renditen nicht unbedingt auf die zukünftige Performance von Bitcoin hindeuten.

Die rivalisierende Ethereum-Gemeinschaft z.B. schlägt Bitcoin laut Bitcoin Circuit routinemäßig als „Boomer-Münze“ und als AOL der Krypto ein, die den Test der 2020er Jahre nicht bestehen und ihren Boden an andere Münzen abtreten wird.

McGlone zieht Parallelen zur Dot-Com-Blase der späten 1990er Jahre und behauptet, dass Bitcoin die Oberhand gewinnen wird. Gleichzeitig sagt er voraus, dass die stabile Tether-Münze 2021 die Marktgrenze von Ethereum überschreiten wird.

Es dürfte etwas Bedeutsames erforderlich sein, um die zunehmende Verbreitung von Tether, der stabilsten Top-Münze, aufzuhalten, die auf der Grundlage des Regressionstrends seit Anfang 2019 in etwas weniger als einem Jahr die Kapitalisierung von Ethereum erreichen wird.