Cryptocurrency News | Reflecting on the 2019 cryptocurrency market and considering future movements (Part 1) [Oohira]

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FX history since 2009, cryptocurrency history since 2015. Leveraging cryptocurrency investment and past experience, I distribute cryptocurrency information on major newsletter sites and investment sites. I participate in numerous individual investor networks and share knowledge gained from many investors. Running a beginner-friendly cryptocurrency investment information site since 2016.

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Cryptocurrency Prices Became Highly Volatile

In 2019, the cryptocurrency (crypto asset) market saw significant volatility starting from the spike in April. There were also various developments, such as the establishment of cryptocurrency exchanges by major financial institutions and regulatory progress. When following cryptocurrency news daily, you can feel how quickly circumstances change.

Here, while looking back at the 2019 crypto trends, I would like to discuss the future direction in several installments.

First, regarding the most traded cryptocurrency, Bitcoin. Looking at the price movement in 2019 (Chart ①), it began the year at a low of 400,000 yen. The reason 400,000 yen is considered a low is that Bitcoin reached 2,000,000 yen at the end of 2017, but declined throughout 2018.

Then from April 2019 it rose sharply, reaching 1,400,000 yen by the end of June. This is said to be due to increased safe-haven demand driven by political issues such as the US-Chinese trade problem. However, from there the price gradually declined toward December.