Virtual currency market analysis [March 31 issue]
Bitcoin has eased slightly from last week's 700,000 yen price.
From that price, it has slightly decreased.
The daily chart is here
Looking at the chart, the current price is near the early May
high of 650,000 yen.
And the low of 750,000 yen at the end of May
has moved in a range, fluctuating
between them.
The 750,000 yen line is a price level that is highly
watched as a high and low, and in mid-March
it did not stop at that line and broke straight down,
but currently it is clearly being watched, and it has become the recent
high. (It is being bounced off at that line)
The future direction is completely unpredictable,
but when following community information,
if it goes down, many people have the idea
to buy Bitcoin even more.
That’s the impression I get.
Let’s look at the 4-hour chart.
Since last week, the price has been bouncing between
75,000 yen and 65,000 yen, shown by the red line,
which makes the range even more clear.
I think you can understand more concretely.
Eventually one of the lines from above or below
will break to either side.
It will happen.
【Increase in Bitcoin buying demand】
Since the market decline due to the coronavirus
there is data showing more people buying Bitcoin.
Also, this drop seems to include new entrants as well.
In domestic Bitbank
account openings have increased by 40%
Overseas major Kraken has increased by 85%
indicating a substantial entry into the market.
This is just a sample; many exchanges are
seeing increased new entrants.
We can surmise that.
New entrants think, “I want to buy Bitcoin because it has become cheaper.”
The May Bitcoin halving
provides a significant low-price opportunity
and existing investors think this way.
These are some of the factors involved.
Also, many investing beginners
believe that Bitcoin is 650,000 yen,
so unless it is 650,000 yen, they think they cannot buy,
and surprisingly that’s many people.
This is because Bitcoin’s currency unit
1 BTC = 650,000 yen
has become a price level where many people think
they cannot buy with fractions.
In reality, you can buy Bitcoin from 0.001 BTC BTC,,
though many do not realize this and think only whole numbers can be bought.but many people do not consider fractional purchases...
In reality you can buy Bitcoin from 0.001Bitcoin price and
exchange entrants, trading volume
For analysis, please refer to this
(Recommended article!!)
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