Cryptocurrency Market Analysis [March 8]
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Ranking of domestic and overseas exchanges I choose
is here↓↓
http://bitcoin-newstart.com/exchange-japan-bitcoin
I have started a cryptocurrency serialization in the FX magazine
FX攻略 (FX Strategy/Guide).
If you happen to stop by a bookstore
I would be glad if you read it.
https://bitcoin-newstart.com/fxkoryaku
【Crypto Market Analysis】
The price changes of cryptocurrencies since last week
over the past week are summarized as follows
Summary: Current price and weekly change
Bitcoin
540,000 yen (13%)
Ethereum
182,000 yen (21%)
Ripple 49 yen (13%)
Polkadot 3,600 yen (3%)
Binance Coin 25,000 yen (12%)
Cardano 121 yen (-12%)
NEM 74 yen (16%)
Bitcoin has risen from last week's 5.2 million yen
to 5.4 million yen.
Bitcoin daily chart
Key points are that the price has been rising by forming short-term higher lows
and that it cannot move above the 5.6 million yen line
yet.
If the price breaks above the 5.6 million yen line,
technically the price could reach 6 million yen
on the chart.
Last week, Bitcoin saw institutional investor activity,
with
• a Hong Kong-based company purchased 4.2 billion yen worth of Bitcoin and Ethereum
• MicroStrategy continues to buy
There were two news items.
While Hong Kong-based company is investing in Bitcoin and Ethereum,
the notable point is that the investment amount in Ethereum
is larger than Bitcoin.
Last week Ethereum’s weekly gain was 21%,
Furthermore, regarding MicroStrategy,
they seem to be buying Bitcoin little by little from a 90 billion yen budget.
Even after Bitcoin has risen to this extent, I am personally surprised at its resilience.
Also this month in the U.S., a per-person stimulus of 150,000 yen will be issued.
It remains to be seen whether this stimulus will be allocated to investments such as Bitcoin.
Whether this stimulus will be allocated to investments in Bitcoin and other assets is notable.
【Ethereum also continues to rise】
Ethereum recovered from the late February decline and climbed again
to 180,000 yen.
Ethereum daily chart
In chart form, it closely resembles Bitcoin.
As for Ethereum news,
the system called “EIP-1559” which burns transaction fees
is expected to be implemented around July.
Currently, many platforms including NFTs and DeFi are based on Ethereum,
and Ethereum’s fee burning tends to make prices rise more easily,
which can be seen as positive news for the entire cryptocurrency market.
＊It does not mean that fees will necessarily decrease. A portion of fees is burned,
which reduces miners’ rewards.
Also, AWS, the cloud service of major e-commerce company Amazon,
has announced support for the Ethereum network.
This is another positive development.
As Ethereum 2.0 upgrades are anticipated going forward,
it is expected to be one of the factors driving development forward.
【FLOW crypto interest rewards reach surprising levels..】
I participated in the FLOW presale last September
FLOW
Even though I invested only 100,000 yen,
February → 200,000 yen
March → 260,000 yen
The high interest rewards were distributed.
FLOW’s current asset value has grown from 100,000 yen to nearly 40,000,000 yen
(locked for six months, so cannot be sold)
This is one of the most surprising news of the year.
(Reference) FLOW income distributed as 260,000 yen
https://bitcoin-newstart.com/flow210306
【NBA Top Shot gaining traction】
What is NBA Top Shot
It is a site selling NBA memorabilia
on which digital goods are being sold as NFTs
Recently, goods are being sold as NFT digital products
and the market is very active.
Items released at around 1,400 yen have sold 10,000 units,
with over 160,000 applicants
in a rush to obtain them.
As soon as you purchase, 1,400 yen can rise to 20,000 yen in value
and it seems to be very exciting.
Following NBA, various fields such as music and digital art
are expected to attract attention in the future.
(Reference)
NBA Top Shot Official Site
