Cryptocurrency Market Analysis [April 21 Issue]
Bitcoin rose briefly from 720,000 yen to 750,000 yen last week.
It has been rising in the short term to 750,000 yen.
This is the current situation.
Bitcoin Daily Chart
This is exactly what was expected last week
as
“In the short term, an uptrend is in place,
and it has surpassed the 730,000 yen level.
If price moves as per technicals, then
from the current price, it could rebound
and move toward 800,000 yen.”
It states this,
and it is moving accordingly.
Currently it is in a range between 700,000 yen
and 800,000 yen,
and the direction is not yet clear.
Market is unclear in direction.
Bitcoin 4-hour Chart
Looking at the 4-hour chart,
the current range-bound market shows
price converging gradually.
You can see it converging.
I feel that either of these red lines
will be surpassed, up or down.
I feel it will break one way.
Bitcoin halving is in May,
so in the near term, price tends to
drop.
However, after Bitcoin halving
and one year later,
there has historically been a large rise.
The previous halving was
in July 2016, when it was 70,000 yen.
July 2017 saw 280,000 yen,
a fourfold increase.
And by the end of 2017 it reached 2,000,000 yen.
This shows a rising trend after halving.
As I have been saying before,
the inflation from fiscal policy due to COVID-19 in various countries
could lead to Bitcoin price increases,
according to halving history.
From past halving events,
it is considered possible.
【Regarding universal cash handouts】
A report has surfaced about cash handouts related to COVID-19 measures.
The following is that information.
The procedure is to fill in a bank account number on an application form printed with each household member’s name, which will be sent by mail, and the payments will be deposited together for the family.
Attachments confirming the household head’s identity and account number are required.
If you have a My Number card, you can also apply online.
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I have a My Number card, so
I think I can apply online.
Regarding this method,
if it is linked to My Number and application is mandatory,
My Number card
could see higher adoption.
It was said that would be a chance to increase adoption,
but it seems that such measures were not particularly taken.
Self-employed people and others
whose income has decreased and who need to use this allowance for rent or taxes
will likely do so.
Robert Kiyosaki, author of “Rich Dad Poor Dad,”
has said that
the 100,000 yen received from this allowance
could lose value in the future, so rather than saving everything,
it is better to hold some as Bitcoin
or other non-fiat assets such as gold
and hold financial products with a different mechanism.
This is what I think is important.
I plan to do the same.
Rather than investing the 100,000 yen in stocks,
it may be better to take an opportunity in cryptocurrency investing with potentially higher gains.
Could this be a catalyst for cryptocurrency investment?
Is it acceptable?
【Robert Kiyosaki, Rich Dad Poor Dad, Recently-Tweeted Topic】
Robert Kiyosaki, author of the world-renowned bestseller “Rich Dad Poor Dad,”
has recently tweeted about COVID-19 measures, which has become a topic of interest.
The content is
“Are you sane? The central banks print tens of trillions of dollars daily to ease the economy with ‘fake dollars,’ so why save? In a zero-interest-rate policy that benefits the losers, why save? If you must save, save gold or Bitcoin, money that belongs to people.”
Robert Kiyosaki’s remarks have become a hot topic in the bestseller known worldwide as ‘Rich Dad Poor Dad,’and in April he tweeted and highlighted Bitcoin's value.
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This is the gist of the content.
It relates to the 100,000 yen cash handout.
The tweet includes content tied to this cash handout.
The use of the phrase “fake dollars” here indicates that governments in both the United States and Japan can print unlimited money, rendering it worthless (value declines).
For more details on Robert Kiyosaki’s remarks,
here
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