Cryptocurrency Market Analysis [December 29 Issue]
This is the last broadcast of the year.
Thank you very much for all your support this year.
Since 2016
There are still subscribers to this newsletter
This year, profits have surged since the end of 2017
and I have received such reports, which is very
pleasing.
We are also receiving voices that those who joined this year have generated profits.
Bitcoin and cryptocurrencies, this year has been a very
remarkable year, and Bitcoin in particular
I feel that it has entered a long-term upward trend.
Reading this newsletter does not immediately yield profits,
but through continued participation,
we select investments based on changes in the crypto industry and the future direction,
and since the overall market may rise, the profits depend on which
assets you choose, so I distribute with the aim of maximizing that.
Bitcoin reached a new all-time high
in 2020, a year when the crypto asset industry
made a very impactful showing,
and I intend to continue gathering information attentively
and to continue selecting promising assets as I deliver.
I look forward to your continued support next year as well.
Bitcoin rose sharply last week
from 2,390,000 yen to as high as 2,900,000 yen,
approaching 3,000,000 yen.
Bitcoin daily chart
Bitcoin exceeded the 2017 year-end peak price of
230,000 yen,
and then moved sideways above that level,
before sharply rising from the 25th.
On the 23rd, Ripple's company was litigation initiated, causing the price to
dip briefly, but it rose again from the 25th.
Normally in stock and forex markets, trading volume tends to
decrease year-end as financial institutions take vacations,
but crypto assets are not particularly affected and
trading can continue, so situations like this can occur.
Year-end 2017 saw great excitement, but 2018 and 2019 saw declines at year-end.
Asia 2021 is expected to see more involvement from institutional investors,
but there may be some degree of adjustment (a downturn) at some point,
so it may be prudent to invest with that in mind.
【Ethereum hits 2020 all-time high】
Ethereum reached the 2020 all-time high of $700 yesterday.
Ethereum price chart
The key level for Ethereum is $700, but looking at the late-2017 bubble, $800 is a price band that many watch closely.
In other words, once it breaks above this level, many investors expect the rise to accelerate.
Ethereum surged since I invested at 12,000 yen in mid-March this year,
and its performance since then has been sixfold.
Since December 1st, Ethereum 2.0's Beacon Chain has been released, and there have been continued Ethereum deposits.
If you stake Ethereum, you can earn interest, so even if Ethereum goes up or down, there is a source of income to some extent, which is fortunate, I think.
However, withdrawals will be possible only after more than a year,
so many people who view Ethereum as a long-term investment are likely depositing.
【Ripple sued bySEC】
XRP, the cryptocurrency from Ripple headquartered in the United States, was sued by the Securities and Exchange Commission
on the basis that it is a security.
Whether XRP is a security has been debated, but why at this timing?
With the SEC chief set to retire in December, filing before that is
an odd move, some would say.
Why not file under the new administration's leadership?
If the current chief remains in charge, surely
internal approval for filing would be obtained, perhaps.
On the 29th, Coinbase, the largest U.S. exchange,
announced it would suspend XRP trading in January,
causing a drop of more than 15%.
In the future, other U.S. exchanges may also suspend trading due to
Coinbase's impact.
This suggests that SEC authority is quite significant.
Ripple real-time chart
https://coincheck.com/ja/exchange/charts/coincheck/xrp_jpy/3600
(Reference) The SEC filed a lawsuit against Ripple
https://bitcoin-newstart.com/ripple-sec
【1inch distributes governance tokens for free】
The decentralized exchange 1INCH distributed governance tokens for free.
Conditions for distribution include:
- Addresses that traded before 9/15
- Addresses that traded four times before 12/24
- Addresses that traded at least $20 before 12/24
That is all.
Around July, the decentralized exchange Uniswap
distributed the governance token
UNI for free,
and at that time I received about
JPY 120,000 worth of UNI.
I held it in two wallets, so in total about
JPY 240,000 worth.
This time with 1INCH I did not receive because I did not trade it.
However, in 2021 other decentralized exchanges may show similar
movements.
【2021 Cryptocurrency Outlook】
I have already written about the outlook for 2021 in magazines and Money Voice.
Regarding magazines, it is already released at bookstores nationwide from 21st,
and Money Voice will be out soon.
The 2021 cryptocurrency outlook covers
・Bitcoin as a widely adopted payment method
・Further institutional investor participation in Bitcoin
・Bitcoin ETF
・Other notable coins besides Bitcoin
and more.
News after writing but on the 23rd, the Ripple SEC lawsuitis expected to have a major impact.
)