The Institutions Are Here! BTC All-Time High Achieved, Guggenheim to Invest $500m and a Bullish Monthly Candle

over 3 years ago

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The Highest Monthly Close in Bitcoin's History

We're about to see the highest monthly close in Bitcoin's history. The previous monthly high was ~$13,700 and today will mark a close above $19k for the first time ever.

This is a bullish macro view on BTC and you can bet that retail and institutions are paying attention to this candle. It's a big moment for Bitcoin as we approach a new bull market with fresh all-time highs waiting to be reached.

Bitcoin may see major price volatility at the start of December

This next article comes from Cointelegraph. What I enjoyed most about it is the various levels of analysis in terms of institutional adoption, futures and GBTC.

We're seeing an unprecedented level of activity in the BTC futures market and in the activity of institutions getting exposure to BTC in various forms. Some are buying BTC outright while others are integrating BTC into their business model and others are investing into GBTC.

All of this culminates to an even more bullish market than most people anticipated. We may see massive amounts of volatility in the coming months and I think most of us agree that it will be macro bullish for the space.

Major Activity on GBTC + Guggenheim to Invest Up to $500m USD in GBTC

Coindesk reports on the Guggenheim news that broke yesterday. Guggenheim manages over $233 billion USD in their various fund allocations. A particular fund called "Macro Opportunities" has $5b in assets and Guggenheim just filed to invest up to 10% of this fund into GBTC.

At the current fund value, this is $500M USD which represents a sizable investment into the space. This is just another domino in the long line of institutions/major investors who have jumped into Bitcoin/Bitcoin-derived products in the past few months.

ETH 2.0 Serenity Mainnet is About to Launch!

ETH2 is probably the most anticipated event in all of crypto. It's also the subject of many a meme.

This article by @behiver talks about the ETH2 launch and gives some quick overview details about the stats for ETH2 so far.

This launch marks a historic event as we get closer than ever to lower fees and greater scalability from the largest network of dApps and projects in the entire crypto space. These issues are undoubtedly one of the largest barriers to adoption for Decentralized Finance (DeFi) and the entire crypto industry. Ethereum's major release is going to be center stage in this bull run as we see the masses flood into the space once again.

You can track the stats in real time with this tool.

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