Cryptocurrency Market Analysis [May 12 Issue]

The current price of Bitcoin is

at the same level as a week ago

and holding its position.

Bitcoin 4-hour chart

Just before the halving

it rose rapidly to nearly 1.1 million yen

and from there, just before the halving

it decreased sharply due to Bitcoin's profit-taking.

Regarding this trend

in the short term

the rising span is different, but

it resembled the previous halving very closely.

It rose right before, and toward the halving

it went down.

The halving is actually said to be around 12 o'clock at midnight on the 12th.

Considering the previous halving

If you invest at the current point,

there is a flow for the price to rise,

but it is not certain that it will be the same as last time,

so depending on that judgment, people who want to allocate funds here

might consider spreading their investments as one option

based on past examples.

In fact, Bitcoin's halving

is preceded by a remarkable rise, not in the short term this time,

but from mid-March (which is also short-term)

a rise of 100% from 500,000 yen

to double price indicates very high

potential.

Bitcoin is increasingly being perceived as a risk hedge

against fiat currencies (a store of value)

and as a substitute asset.

Also, considering last year's

price in relation to the current price.

Bitcoin daily chart.

The current price level is already higher than the

average price from last year.

We can see that it is already in a higher position.

There was a large drop just before,

and whether it will exceed the 1,000,000-yen line

in the short term seems to require a little more time,

but price movement is in a good position.

Also, looking at the overall cryptocurrency movement over a week,

Bitcoin is at the same level as last week,

but other altcoins are

−5% to −10%

下降しています

From this characteristic, altcoins

show that the rise rate compared to Bitcoin is similar,

and they tend to fall more easily.

As before, altcoins

when bought a few and held, can surge dramatically

and when any one of them profits,

the risk is higher than Bitcoin.

Nevertheless, altcoins themselves have relatively low market cap, so with inflows,

the rise could be higher than Bitcoin's.

However, selecting altcoins with high market cap and preparing for the future

is probably advisable.

I think so.

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