Cryptocurrency market analysis January 4
Dear subscribers
Happy New Year.
Thank you for subscribing last year.
We look forward to your continued support this year as well.
＊If there are topics you would like to see covered in the newsletter
or if you have any questions, please contact us.
We will introduce some of them in the newsletter's Q&A section.
Ranking of domestic and international exchanges chosen by me
is here↓↓
http://bitcoin-newstart.com/exchange-japan-bitcoin
I will be contributing a cryptocurrency series in FX Magazine
for FX攻略 (FX Strategy).
If you happen to pass by a bookstore,
I would be glad if you could read it.
https://bitcoin-newstart.com/fxkoryaku
【Cryptocurrency Market Analysis】
From last week, the price movements of cryptocurrencies
(for a week) are summarized as follows
Summary: current price and change from one week ago
Bitcoin
3,010,000 yen (10%)
Ethereum
95,000 yen (34%)
Ripple 23 yen (-%)
Polkadot 945 yen (76%)
Binance Coin 4,000 yen (16%)
Cardano 20 yen (30%)
NEM 20 yen (-18%)
【MagMag Magazines Award 5th place】
In 2020, MagMag, a major newsletter site, announced the
Mag Magazine Award, and I was able to win.
（Reference）5th place in MagMag's cryptocurrency newsletter asset management category in 2020!!
https://bitcoin-newstart.com/2020magmag
【2021 Cryptocurrency Market Outlook】
I contributed the 2021 outlook for cryptocurrency markets on MoneyVoice.
https://www.mag2.com/p/money/1001574
Bitcoin rose recently from around the upper 2.7 million yen range
to a substantial increase.
It temporarily recorded 3.5 million yen,
and today there is a significant adjustment (decline).
There is a large correction.
Bitcoin 4-hour chart
In such a market, at times the prices on each cryptocurrency exchange
diverge greatly,
so it is important to compare the actual price with the trading price
and verify that they are not far apart.
Bitcoin’s recent surge has seen
a climb to 3.5 million yen,
a rise from the March 2020 low of 500,000 yen by about sevenfold.
This demonstrates significant performance.
Given the recent surge, there is talk that
this could be a bubble.
From Bitcoin’s rise, there has been a surge in Ethereum
and some other altcoins as well.
However, it remains to be seen how long this trend will continue.
Nevertheless, I think it is important to monitor cautiously.
The recent decline in Bitcoin
is not a one-day drop
but on a weekly basis it is still up, suggesting the uptrend
is continuing.
For Bitcoin, if we break firmly below 2.9 million yen
it may indicate a downturn rather than a sustained uptrend, in my view.
【Ethereum exceeds 100,000 yen】
Yesterday, Ethereum surpassed 100,000 yen.
Both I and several investor friends were extremely thrilled.
Of course it might be temporary, but
when a pullback occurs, how far it will go down
and how high it will rise again becomes a key point.
Ethereum 4-hour chart
There is a temporary sharp drop, but
at this point it is still positive on a daily basis
and the uptrend remains intact.
Regarding Ethereum
Due to the surge in price, GAS (Ethereum transaction fees)
has surged; to truly demonstrate its potential, Ethereum 2.0 (from 2021 onward)
needs to improve scaling and reduce GAS costs, which is eagerly anticipated
to be achieved
At the same time, it is said that mining for Ethereum will also decrease
【Currencies whose prices are rising and those that are not】
In this rise, Bitcoin and Ethereum showed a very large surge.
I also bought when it fell to 15,000 yen in March 2020,
so I am glad to see the gains clearly.
（Previously disclosed in paid section）
Looking at the current price movements of currencies,
Bitcoin as a store of value
as well as Ethereum and Polkadot and other
platforms show notable surges.
Conversely, Ripple and NEM (XEM), which are currently in focus due to SEC lawsuits, show smaller rises.
In SEC litigation, more centralized projects that distribute coins to profit may be considered securities,
so assets and projects that are not securities like Bitcoin and
Ethereum, with similar characteristics, have attracted substantial funding and surged.
