Virtual Currency Market Analysis [February 17 Issue] Re-up
＊The article is an excerpt of the paid portion.
Currently, you can deposit cryptocurrency
and earn interest of 8%NEXO is
something to note.
It protects customer assets.
2020’s cryptocurrency investment to watch
Details on Nexo, which is likely to become a company
can be found here.
The current price of Bitcoin
has risen from last week’s 1,070,000 yen to
briefly surpassing 1,100,000 yen
and recently fell below 1,100,000 yen
again.
It is at a level similar to last week.
In terms of Bitcoin’s own
adjustment (drop),
it could rebound once within the 1,050,000 to 1,000,000 yen range.
Waiting to buy until then would be prudent.
If there is a larger drop,
the 900,000 yen level would provide strong support
and could be considered a buying point.
(That is, if it falls that far;
it is unlikely to drop below 1,000,000 yen easily.)
As Bitcoin enters a correction,
other currencies are dropping together as well.
Over a 24-hour period, the declines are:
・Ethereum −6%
・Risk−6.3%
・Ripple−9%
・NEM −9%
・Bitcoin Cash−12%
The larger the increase,
the greater the drop for that currency.
Thus, while Bitcoin may rise like other currencies,
it tends to fall less than altcoins.
In other words, altcoins have a tendency to drop more sharply,
so buying at a peak should be approached with caution.
As for altcoins,
after a large surge, the subsequent decline should be approached cautiously and waiting beforehand is prudent.
(Excluding the initial surge phase.)
Currently, a significant rise has occurred for now,
and we are in a waiting stance.
I believe we are in a state of waiting.
【Risk Chart Analysis】
Regarding risk, domestically
the Coincheck exchange
rose after announcing staking,
and has temporarily reached five times within the year.
Readers, including paid and free newsletters,
have asked whether they should try to buy into risk.
The risk chart is
here
At the end of June 2019,
cryptocurrencies surged substantially.
As the chart shows,
risk sits within the high and low zones from the time of the surge (red box).
In other words, in this zone,
it may be better to wait for how prices move in the future.
If this zone breaks downward, I expect a sharp drop.
It could halt briefly around 150,
and if it falls further, it may settle around 120–100.
I think it would stabilize around that level.
Therefore, if it falls to around 120–100,
that would be a point where you could buy while reducing risk to some extent.
In any case,
current trading volume is highly volatile, so
it is reasonable to wait and watch.
However, 2020 may bring Binance’s risk staking to fruition,
and information suggests the possibility of further gains.
I feel that it could rise again.
Therefore, until then, where we can buy and at what prices
becomes important.
But this is not just risk; other currencies share this characteristic.
Risk rose to the level of late June 2019,
but that rise is greater than that of other currencies (Bitcoin and Ethereum).
Bitcoin itself has not yet risen to the late June 2019 level.
Risk
・・・・・・
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and due to factors beyond other currencies, there is still room for higher gains
compared to others.
(Please rewrite this section for public release.)
