Cryptocurrency Market Analysis [December 24 Issue]

Awarded at the Mag2 Grand Prize

I am very grateful that this newsletter

was awarded at the 2019 Mag2 Grand Prize

as part of this newsletter.

＊This article is the same as the content

distributed on Mag2. The monthly fee is also

cheaper than Mag2 (1000 yen per month).

This is in the Asset Management category

award.

Besides Algorand , some currencies

that had fallen

also saw a price drop,

but in the first half of 2019

when the market was pessimistic,

investing in currencies proved profitable.

This is one of the reasons for the gains.

Even in April I didn’t think it would rise

so sharply,

but after comparing expert predictions

with market prices, I looked for buying points.

Official site of the award

here

https://www.mag2.com/events/mag2year/2019/

＊Mercari app

Mercu Pay is registered (1000 yen)

and Smart Pay (2000 yen)

can earn up to 3000 yen worth of points

for free.

Since I have basically paid with electronic money

most of the time, the free

Mercari Pay points are convenient.

https://bitcoin-newstart.com/merupay

Now to the main topic

Bitcoin has been around the high 600,000 to 700,000 yen range

and recently reached around 820,000 yen.

Bitcoin daily chart

In the chart, Bitcoin

from the late June high of 1.5 million yen

has shown a clean technical movement

and is making lower highs.

(red diagonal line)

If you had been watching this line from the start, when

the price rose to the red line

you could have entered on a "sell" each time

and taken profits.

＊In margin trading you can enter from a "sell"

and the lower the price goes, the more profit you make.

Also at the current price level

recently the price has been at the May level

and is moving along a support line

that has been holding.

【Bitcoin's

buy positions surge】

Bitcoin buys

have increased rapidly.

＊It is not about the amount of money, but the quantity.

The image is here

The left side shows the volume of buy positions,

and since before December it has surged

significantly.

This reflects the number of people holding buys,

so the price is dropping now because even if there are few sellers,

the amount they sell is large, pushing the price down.

Whether the number of buys and sells translates to price is not easy to judge, but my own

thinking is as follows:

Generally, big players may inject funds all at once to push the price up,

but when the price is depressed, they may gradually increase the number of "buys" without drawing attention,

and when Bitcoin's price gradually rises, other retail investors also start buying,

and prices rise further as large capital is injected all at once.

Afterwards, when the price had been stagnating, they close the buy positions as profits by selling.

I think that was roughly how Bitcoin prices behaved around the end of June this year.

Then the price jumps all at once......

）