Cryptocurrency Practical Investment Newsletter March 1

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Ranking of domestic and international exchanges I choose

is here↓↓

http://bitcoin-newstart.com/exchange-japan-bitcoin

I will be publishing a cryptocurrency series in the FX攻略 FX magazine.

If you happen to stop by a bookstore, I would be glad if you read it.

https://bitcoin-newstart.com/fxkoryaku

【Cryptocurrency Market Analysis】

We summarize the price changes of cryptocurrencies over the past week as follows

(one week) and show them as

Display: current price (change from one week ago)

Bitcoin

520万円 (-14%)

Ethereum

165,000 yen (-20%)

Ripple 46 yen (-20%)

Polkadot 3,710 yen (-%)

Binance Coin 27,000 yen (-%)

Cardano 137 yen (17%)

NEM 70 yen (17%)

Bitcoin, after dropping from last week’s 5.6 million yen to around 5.0 million yen,

has declined sharply and is now near the 5 million yen line and is rebounding.

Bitcoin daily chart

Last week's decline in Bitcoin showed that there is a zone from 5.1 million to 4.8 million yen

where it could pause, and if it breaks below that, it could fall further to the early 4 million range.

We explained that it might drop toward the lower 4 million range.

Last week, Bitcoin fell from 5.1 million to 4.8 million yen,

rebounded several times, and its high price

gradually trended down.

However, on March 1 there was a significant breakout

to push the highs higher.

This rise has broken above the downtrend (red line) that pushed the highs down.

As you can tell from this state,

the zone of 5.1 million to 4.8 million yen has strong buying pressure.

In fact, on March 1

news came that the U.S. company

MicroStrategy

has increased its Bitcoin holdings,

but MacroStrategy has

long announced plans to buy Bitcoin with 9 billion yen in funds.

It’s likely that this influence is also present.

The zone from 5.1 million to 4.8 million yen is

a target area for institutional investors,

and it seems so in hindsight that

this zone is what they are aiming for.

Bitcoin may approach the near-term peak price of

63,0000,0 yen (630万円) in the future,

which is being watched closely.

【Altcoins Rally】

Looking at weekly price gains,

・Polkadot

・NEM

・Cardano

・Solana

have moved into positive territory.

First, Polkadot:

there are continued listings of cryptocurrencies related to the Polkadot network,

and considering those fundamentals,

I think there are supporting factors.

Next, NEM: a new currency called Symbol is set to be issued to holders of NEM tokens,

but since January last year this has been delayed.

However, since February, a strong rise has continued.

NEM was around 4 yen a year ago,

so it has risen about 15-fold since then.

There is that much fundamental (economic) information,

but… perhaps not.

As for NEM, the Japanese community is strong,

and it’s likely that Japanese investors have a large influence.

Honestly, I don’t see corresponding progress to justify the price increase yet.

Next is Cardano ADA (Ada).

This coin is very solid and has strong buying pressure.

The system where you can stake Cardano and earn interest is called staking,

and it is said that the staking ratio accounts for over 70% of the total

(over 70% of issued coins are staked).

With so much staking, it is said the price will have a hard time dropping.

Cardano is in the same category as Ethereum as a smart contract platform,

but unlike Ethereum, DeFi and NFT demand is limited and development is the main focus.

However, domestic and international investor communities are strong,

and for that reason the floor is particularly firm; last week it hit a high of

125 yen in January 2018, a new high, and recorded 135 yen

Cardano’s listing on Coinbase was talked about from the end of last year,

but there has been no concrete announcement yet.

A recent factor for Cardano’s rise is likely the Coinbase listing.

(Reference) Cardano ADA hits an all-time high

https://bitcoin-newstart.com/ada210227

Also, Solana, another cryptocurrency, rose sharply last week.

Solana is a program capable of processing up to 50,000 transactions per second,

and is used in the Serum decentralized exchange system

as a platform for trading.

Last week, Serum’s trading volume hit a record high, drawing attention to Solana as a price driver.

As for Solana, the notable area is that Serum is used at the exchanges it is listed at,

but with Ethereum fees rising,

whether other partners can be deployed will be a key factor.

（Reference）About Solana cryptocurrency

https://bitcoin-newstart.com/solana-sol

Last week, many currencies declined over the week,

but the currencies mentioned here have moved positively,

and are currently on an uptrend.

Cryptocurrency Market Analysis [March 1]