Cryptocurrency Market Analysis [August 25 Issue]

Last week and the week before, altcoins have been

showing very large surges.

Among the currencies I hold,

there are currencies that have risen fivefold in a month.

However, when currencies bought at a low price

rise this much, the price becomes a concern

and I can’t help but worry.

At the time of investment, the future price movement

of that currency is unknown, but

seeing results like this eventually is very

pleasing.

A more detailed status of currencies will be introduced

separately at the bottom of this article.

Bitcoin started from around 1.26 million yen last week

and is currently around 1.24 million yen.

It is at the same level, but

it attempted 1.3 million yen once,

and temporarily recorded 1.30 million yen.

Bitcoin four-hour chart

Since the end of July, it has

consistently raised its low and has been rising.

Bitcoin briefly reached 1.3 million yen last week,

but could not break through and has since declined.

Looking at the red trend line that connects the lows,

the trend line is clearly drawn,

but after attempting 1.3 million yen,

it fell below that line.

From the current decline, it is rising again and

is just about to cross that trend line.

Bitcoin is aiming for the recent 1.3 million yen price,

but after that, it is expected to target last year’s high of

1.5 million yen.

Bitcoin daily chart

Compared to last year’s high,

Bitcoin’s price is in the same price range as

the high zone from last year.

Looking at the high zone from last year,

it can be seen as two zones, upper and lower,

and until now it has entered the lower zone

twice, but this time the rise has clearly reached the upper zone

and is in the price range at last year’s high level.

From Bitcoin’s movement,

the trend of the overall cryptocurrency market is

positive, and many think there is a possibility for further

price increases.

Normally this period is a summer lull,

and prices tend to settle, but

this year even in August, trading volume is quite high

giving a different impression from typical years.

Is this some kind of signal...?

It feels like a market you can sense signaling something.

【NEM Cryptocurrency Surge】

NEM has recorded the price of 11 yen for the first time in 13 months.

NEM 1-year chart

Regarding NEM,

it was a currency that had not been doing well in recent years,

but recently

including on Twitter, the community has been

getting more excited.

The surge is driven by the preparation for a year-end release

of the currency symbol (symbol).

If you hold NEM, you can obtain Symbol for free,

so there is a strong tendency to buy NEM before Symbol is released.

In the future, there is a possibility that NEM will be bought again toward the end of the year.

However, it remains to be seen what price Symbol will be when released

in December.

And after Symbol is distributed,

will NEM be sold off and its price drop,

or not? That is one of the key points.

New currency Symbol is

expected to have more practical use than NEM in the future.

If that happens, some people will think there is no need for NEM,

but in reality, we cannot know for sure.

If you predict it like that, it’s not unusual in the existing cryptocurrency market

for such things to rise substantially.

Whether to hold NEM you currently own for Symbol distribution,

or to hold NEM up to the end of the year for potential price increases,

and decide whether to realize gains before Symbol is distributed,

are concerns for investors.

The latest price increase status for NEM is here

https://bitcoin-newstart.com/nem0824

【Bitcoin is Expected to Enter an Uptrend】

Bloomberg Experts

Bloomberg, a major U.S. media outlet,

says investment experts predict

that Bitcoin will enter an upward trend in the future.

Currently Bitcoin is close to 1.3 million yen,

and is in the early stage of the bubble price range.

In fact, considering that, it can be said to be in the high-price range historically,

but Bloomberg’s experts say that Bollinger Bands on technical indicators

are currently converging, suggesting there is potential for further movement.

In a bubble, Bitcoin’s Bollinger Band expands

In the current Bitcoin, Bollinger Band converges

If it converges, it will expand significantly,

and price movements will be large, so going forward

Bitcoin is expected to continue its upward trend.

That is Bloomberg’s forecast.

In reality, Bitcoin is currently near last year’s

highs, but compared with last year’s surge,

it has a clearly rising floor, giving the impression that price movement is more stable

than last year.

For that reason, it continues to hold around the 1.2 million yen range firmly.

This is why the price remains stable.

Bloomberg’s charted predictions with details

are available here

https://bitcoin-newstart.com/btc0820