Daily Flash | The final Bitcoin bottom price may be $8,000；In the recent two months, Ethereum based Blue Whale has increased its holdings to nearly 700000 ETH

Today's Topic - Asset management giant Guggenheim Partners: if Bitcoin falls below $30,000, the final bottom price may be $8,000

On May 25, Scott Minerd, chief investment officer of Guggenheim Partners, an asset management giant, predicted that if the price of Bitcoin falls below the support of $30,000, Bitcoin may even fall below $10,000, and $8,000 may be the final bottom price.

Scott Minerd added that "with the Fed raising interest rates, the whole crypto industry will face downward pressure". He believes that there are many worthless projects in the industry, and Ethereum and Bitcoin will become survivors, but he is not sure whether they will win in the end, just as no one can predict the final winner in the Internet business boom that began more than 20 years ago.

Today's Chart - Since March, the Ethereum Blue Whale address has increased its holdings of nearly 700,000 ETH

According to the IntoTheBlock data, since March, the total ETH holdings of Ethereum blue whale addresses (with coin holdings ranging from 10,000 to 100,000) have increased from 28.3 million to 29 million, showing an overall upward trend. In addition, the number of addresses with coin holdings of 1-10 ETH increased from 1.14 million to 1.19 million.

The analysis points out that the above data may indicate that Ethereum has entered the accumulation stage. Do you think Ethereum has reached the bottom range and is beginning to soar?

Today's Influencer - Musk raised its commitment to buy Twitter's stake to $33.5 billion

On May 26, Musk abandoned the plan to use the margin loan linked to Tesla shares to provide part of the funds for its Twitter acquisition, and the equity financing scale of the acquisition case increased to $33.5 billion.

Musk will provide another $6.25 billion in equity financing to offset a margin loan of the same size, which was cut to $6.25 billion earlier this month, according to a regulatory document submitted on Wednesday.

The document also shows that Musk continues to seek additional financing commitments, including discussing the equity injection into Twitter with Jack Dorsey, the former CEO of Twitter, and other investors.

Earlier, in the acquisition agreement reached with Twitter in April, Musk said that he had obtained $25.5 billion in full debt and margin loan financing, and provided approximately $21 billion in equity commitments.

Hot events yesterday - #Bitcoin mining is the most profitable way of energy utilization; #MasterCard executives believe that blockchain technology and digital assets will be adopted on a large scale sooner or later

MasterCard: Blockchain technology and digital assets will be adopted on a large scale sooner or later

Author: Gate.io Researcher Byron B. Translator: Joy Z.
* This article represents only the views of the researcher and does not constitute any investment advice.*Gate.io reserves all rights to this article. Reposting the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.