Cryptocurrency Market Analysis [September 1st Issue]

Bitcoin as of September 1st

is exactly one week prior, and

the price is at the same level,

but it showed a drop to as low as 1,200,000 yen.

Recently, after Prime Minister Abe resigned,

the Nikkei average fell sharply,

but the fall in Bitcoin was limited.

Bitcoin four-hour chart

Currently, Bitcoin is

reaching the nearby resistance line of 1,260,000 yen,

but is trying to break through firmly.

The decline caused by Abe's resignation was

limited, but on September 1st the price shifted upward.

In terms of Abe's resignation,

Bitcoin's drop was limited,

and on September 1st the price has turned higher.

The resignation of Japan's prime minister had virtually no impact on Bitcoin.

Bitcoin, being a stateless currency,

its holders are unlikely to be affected by who the Japanese prime minister is.

The target price remains 1,300,000 yen.

Since there was a failed attempt to reach 1,300,000 yen the week before last,

this time there is attention on whether it can attempt 1,300,000 yen again.

If it exceeds 1,300,000 yen,

it is believed to have a positive impact on other altcoins as well.

Details of Bitcoin prices around Abe's resignation

and the Nikkei average can be found here

on this page

https://bitcoin-newstart.com/news0828

【Ethereum at 50,000 yen annual peak】

Ethereum briefly reached 50,000 yen

recording this extent.

It is the highest price of the year.

In fact, this price is since July 2018.

That means it is the price after two years and two months.

During that period, Ethereum fell to 10,000 yen,

but has since risen to this level.

(I invested funds in the lows of 2019 and 2020.)

Ethereum daily chart

Since the March drop this year, it has more than quadrupled from 12,000 yen.

As frequently mentioned,

in 2020 Ethereum is preparing the Ethereum 2.0 upgrade,

which is anticipated to be released within the year,

but it is not certain yet,

and the developers say it might slip to 2021.

Even if delayed, Ethereum, which has already become widespread,

is expected to have a significant impact reflected in its price.

Looking at Ethereum's past prices, note on the weekly chart:

The price of 50,000 yen is a key level,

and is highly watched.

Trading near 50,000 yen has attracted substantial attention to Ethereum.

Future targets are major milestones of 70,000 and 90,000 yen.

*The chart is in dollars.

In 2020 and 2021, Ethereum could reach major milestones,

and it feels like it could be a significant year for Ethereum.

【NEM's surge continues, records 15 yen for the first time in two years】

A Japanese community-driven project, NEM, rose from 11 yen last week

to 16 yen as of September 1st.

Regarding NEM, a free airdrop of Symbol is planned for December,

which has sparked buying activity ahead of the event.

Currently, there is a movement to raise NEM’s price,

but investors should consider what Symbol is, and that NEM will still be held after the airdrop.

What is NEM’s use case? It is important to consider.

Recently, attention has been on price alone for NEM,

and the broader picture is not as visible.

Recently, Ethereum seems still different from NEM,

and Ethereum has fundamentals that justify price increases.

Nonetheless, as fellow Japanese, I root for NEM as well.

When NEM fell to 88 yen in January 2018,

that level is a milestone, and I am watching whether NEM can reach this price again.

https://bitcoin-newstart.com/nem0815

【In Coincheck, New Currency IOSt Listing】

IOST is said to specialize in the decentralization of Ethereum and

fast transaction speeds.

It is currently listed on Binance, OKEX,and others,

ranked 113th by market cap, and although it listed in February 2019,

it cannot be considered a high-ranked coin.

Today Coincheck announced its listing on the platform, and

the price moved from 0.75 to 0.8 to 0.75 yen.

In the community’s view, there are voices asking, “Why IOST?

It is not a well-known currency.

Nevertheless, as the first domestic listing by Coincheck,

it is a notable development.

Regarding Coincheck, expectations are high domestically, and in the future I hope to see trading of currencies such as Polkadot and Chainlink.

Coincheck details ↓

https://bitcoin-newstart.com/coincheck-bitcoin

【Domestic IEOs: Are They Profitable?】

Last week, domestic cryptocurrency exchange Coincheck announced it would conduct a domestic IEO.

The target amount is 1 billion yen.

Because it is domestic, it has attracted a great deal of attention.

）