Cryptocurrency Market Analysis [November 12 Issue]
＊The article's published portion excerpts part of the paid content.
Last week in the million-yen range
it had been fluctuating
Bitcoin recently
fell below the price of 1,000,000 yen.
Bitcoin daily chart
the 1,000,000 yen
price is an easy-to-notice level, but
it fell faster than expected
to be
as shown in the red boxed area on the chart
around the 950,000 yen region
is becoming a
support line
Was to be clearly
whether it would break this level is the focus.
At year-end, opinions predicting a rise in price
were present among experts as well, this year
in the first half.
With two months left until the end of the year
remaining.
By this time last year
Bitcoin was priced at 750,000 yen.
Bitcoin 1-year chart
is here
Around this time, Bitcoin Cash underwent
a hard fork
and split,
causing a loss of confidence
and a price drop.
This period saw prices fall.
From there, prices traded at lows
but this year
have shown a substantial rise since April.
Looking at the 1-year chart
even considering the current decline, over a one-year span
it is an uptrend.
）【Trends in China’s cryptocurrency】
China’s blockchain
is becoming important,
and Bitcoin rose in a short period
as a memory,
but there is information that
the blockchain industry, including cryptocurrencies,
is on the rise.
Also, the founder of a Chinese exchange
predicts Bitcoin will be
500,000 dollars (about 54 million yen) in nine years.
.
https://jp.cointelegraph.com/news/bobby-lee-500k-bitcoin-price-flippening-of-gold-will-come-by-2028
Until now, such forecasts
from Chinese exchanges
were remembered, but now
China is accelerating blockchain including cryptocurrencies.
In China, it is said that the launch of
DCEP
may occur around year-end or New Year.
It is said.
Regarding this sovereign currency
some blockchains say
that it does not exist,
but in reality, it is technically possible to later apply it to a blockchain,
so perhaps that direction will be pursued.
Speaking of China, mining has long been
famous.
Miners who perform the transfer processing
will receive rewards for that cryptocurrency
through mining.
Perhaps China will apply its own currency
DCEP to the blockchain
and, as a national strategy, mine to generate profits.
If that happens,
the more DCEP spreads,
the more wealth from mining will flow into China.
Also, recently discussed
Facebook’s cryptocurrency Libra
Libra’s prospects are currently
considered difficult, and whether it can truly obtain the approvals of various countries
is in doubt.
