Bitcoin rose slightly above 1,100,000 yen last week

and exceeded 1,100,000 yen.

Bitcoin daily chart

As I mentioned last week,

Bitcoin is at the same price range as before the March crash

highs.

It has reached the level of the high before the crash.

Also, the trend line drawn from the high of 1,100,000 yen and the May low

has come to a point where it intersects,

and technically there is strong buying pressure,

but price has actually been rising.

Bitcoin had previously tried up to 1,300,000 yen

but then fell.

Nevertheless, it remains solidly supported.

Since July, Altcoins including DeFi tokens

saw a big rally, and as a result, the gains were significant,

so the subsequent declines have also been substantial to some extent.

(There is still more room to rise.)

In the midst of this, Bitcoin and Ethereum remain

in a resilient market situation.

【Ethereum remains

in a solid uptrend】

Ethereum is at the same level as last week

and

is at the same level as the high in 2019.

Together with last year's high,

the price seems to be converging around 38,000 yen

as a price level to be mindful of.

As for the future direction,

I can't say for sure, but last week

major decentralized exchanges (DEXs),

UNISWAP (Uniswap ) issued

its own token UNI,

which drew a lot of attention. (Details will follow)

How this event will influence the market going forward

is something to watch closely.

If those events influence markets, we may see further gains,

or price may simply consolidate at current levels.

Stay tuned.

【UNISWAP's UNI airdrop】

A large airdrop of UNI

last week was quite remarkable.

A major decentralized exchange (DEX) in crypto, UNISWAP,distributed about 16 billion yen worth of tokens.

The conditions for receiving this token

were limited to those who had traded on UNISWAP before,

and I personally received distribution in two wallets,

each wallet getting 400 UNI and another 800 UNI,

which valued UNI at about 300 yen,

roughly 240,000 yen at that time.

This was completely unexpected,

a surprise reward described as UNISWAP's

grant.

However, UNI later surged to 700 yen,

showing very high performance.

As of September 21, it stood at 530 yen.

Prices have seemed to settle somewhat,

but since the release exceeded 300 yen,

this performance is remarkable.

UNI is listed on Coinbase and

other major exchanges like Binance,

which is a major development for the token.

Whether UNI's listing will pull the entire crypto market higher

is something to watch closely.

By the way, I have exchanged the 800 UNI I received for Ethereum.

Regarding Uniswap, I have received several inquiries

asking, "Is it still possible to receive the airdrop if I join now?"

However, since the eligibility is tied to wallets with prior trading history,

even if you start trading now, you may not receive the free distribution.

(I tried this myself.)

For those who traded on Uniswap before the free distribution,

there is a possibility of receiving the free airdrop, so

it is recommended to check.

Reference for Uniswap free distribution application method is here.

https://bitcoin-newstart.com/uniswap-uni

【AVAX is listed on the 21st】

AVAX, which had a presale in August,

will be listed on the 21st.

We will also be watching how much impact this listing has on the market.

I couldn't participate in the presale, so I will be observing this time.

【Notes on buying and selling cryptocurrency domestically】

There were reports on Twitter that the selling price on the major domestic exchange Bit Flyer

was far apart from the purchase price, making fees high.

For example, if the market price is 400 yen, the purchase price could be 600 yen,

leading to very high fees.

It may be temporary, but if you press the buy button without thought,

you could end up paying a quite unfavorable price.

Be sure to check the market price and the price on the exchange before buying.

Please refer to the following article for details.

https://bitcoin-newstart.com/decurret-fee

Domestic major exchange DeCurret is used as an example.

Temporary spikes in trading fees are common in Japan,

so those using BitFlyer should be especially careful.

＊It's not that fees always spike; depending on timing,

there may be times like this.

【Shopping from overseas site with 16% discount】

I bought Amazon products at a 16% discount.

Purse, an overseas EC site,Purse.

Last week at Purse, I purchased a PC case sold on Japanese Amazon

at 16% off.

The actual product is here

https://bitcoin-newstart.com/wp-content/uploads/2020/09/purse.jpghttps://bitcoin-newstart.com/wp-content/uploads/2020/09/purse.jpg

This site allows you to paste the URL of Japanese Amazon products

and search to buy Japanese Amazon items via Purse.

At Purse, you can buy items using Bitcoin and Bitcoin Cash.

And another advantage is that you can set a discount rate.

You can set a discount of up to about 30%.

If the discount rate is high, it seems the shipment of the item may take longer.

However, if the discount rate is too high, sometimes it is hard to find someone to ship,

so setting a reasonable discount rate is advisable.

I bought a PC case priced at 1,980 yen for 1,675 yen after a 16% discount.

Purser details are here

https://bitcoin-newstart.com/purse-buyhttps://bitcoin-newstart.com/purse-buy

If you are curious, try with a small amount.

Cash payments with cryptocurrency are often cheaper than credit cards,

so discounts may be possible there.

That might be a good angle for discounts.

【2020 actions of cryptocurrency investors】

Domestic exchange Coincheck conducted a survey in 2020

to see if users invested after the COVID-19 shock and subsequent crash.

The results showed:

· Newcomers to crypto investing in 2020 increased year over year.

· After the COVID-19 shock, many entrants were from the 2017 cohort.

· Investment currencies were, in order, Bitcoin, Ripple, Ethereum.

· Investments are being made for medium- to long-term asset formation.

This is an interesting finding.

Personally, there are many takeaways from the results,

but it gives the impression that more people view cryptocurrency positively.

Details of the survey are here.

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

）

Cryptocurrency Market Analysis [September 22 Issue]