Cryptocurrency Market Analysis [July 6 Edition]
Bitcoin has been trading in almost the same price range as last week’s 970,000 yen.
It is fluctuating within a similar price band.
Bitcoin four-hour chart
When viewed on the four-hour chart, it is moving in a range from 960,000 to 1,000,000 yen
back and forth.
That is the situation.
Looking at the price, it tries to reach 1,000,000 yen
but seems unable to break through.
Let’s look at Bitcoin’s daily chart
and compare it with the four-hour line
The daily line does not necessarily
coincide, but the line drawn on the daily chart
is stronger.
Therefore, when considering long-term holding and buying,
we look at the larger timeframes such as the daily chart.
On the daily chart, the near-term target price is
1,100,000 yen
and the support line (buying pressure) is around
950,000 yen.
Another support line around 850,000 yen
is where I personally would consider buying Bitcoin.
I am thinking about buying at that level.
[BOJ to conduct digital verification experiments]
[Scheduled]
Japan is behind in digitization, but
news has come that the Bank of Japan plans to conduct a pilot test of digital currency.
A news article is available.
Digital currency issued by central banks
is referred to as CBDC.
China is the world leader in CBDC,and in places like Shenzhen,
digital currency is being tested to some extent.
China monitors the flow of citizens’ money and, to prevent capital flight abroad, is accelerating the digitization of fiat currency.
The Chinese government has strong powers and has even confiscated private assets, so I think even the wealthy in China are wary of this digital trend.
In China, the buying and selling of cryptocurrencies is actually banned.
Nevertheless, some Chinese people reportedly use different internet connections, namely VPNs,
to hold cryptocurrencies.
you can restore the cryptocurrency.
The mechanism of such cryptocurrencies is said to function as money for people, as Robert Kiyosaki has described.
For Bank of Japan digital currency, please see the following article.
Please read the article below.
https://bitcoin-newstart.com/news0706
[In Australia]
Stores accepting cryptocurrency payments are increasing.
It is news that 2,500 stores in Australia will adopt cryptocurrency payments.
News article.
The currencies being considered are as follows.
Bitcoin (BTC), Ether (ETH),
Dash (DASH), Litecoin (LTC)
XRP, Stellar (XLM)
Primarily high market cap
those are the target currencies.
Dash is a privacy coin
and, with a current market cap around 24th,
it is odd why it was chosen as a target currency.
Dash is popular in South America.
There is information that it is a popular currency there.
Dash has been popular since the early days around 2016,
when it ranked as high as third in market cap.
That currency was popular.
Operations promoted Dash on YouTube
and that became a topic at the time.
For currencies other than Dash, all are supported on Japanese exchanges.
* Dash was previously only available on Coincheck,
but in 2018 it was delisted due to anonymity concerns.
From these points, if you are looking for a more advanced cryptocurrency investment,
it is okay to consider overseas options, but
the currencies available on domestic exchanges are also solid investments.
I believe you can invest with confidence.
All currencies other than Dash are available on
domestic exchanges, including Coincheck.
The domestic exchange is Coincheck.
https://bitcoin-newstart.com/coincheck-bitcoin
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