Cryptocurrency Market Analysis [March 23]

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Here is my ranking of domestic and international exchanges

↓↓

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

【Crypto Market Analysis】

The price changes in cryptocurrencies from last week

are summarized as follows for the week

Display: current price (change from a week ago)

Bitcoin

6,270万 yen (-％)

Ethereum

193,000 yen (-5%）

Ripple61 yen（26％）

Polkadot4,000 yen（-%）

Binance Coin28,000 yen（-％）

Cardano128 yen（10%）

NEM41 yen（-％）

Two weeks ago, Bitcoin reached a record high of 6.5 million yen, but last week the price has drifted down slightly and is converging to around 6.2 million yen.

Bitcoin daily chart

From a daily chart perspective,

it forms a clean uptrend with prices rising in a staircase pattern,

highlighting higher highs and higher lows.

This is a steady upward trend.

Regarding Bitcoin news

JP Morgan Chase’s analysis shows that

2021 year Q1 (1 month to3 month) buying total for Bitcoin was roughly at the same level between individual and institutional investors, according to the survey.

Last year, major payment companies PayPal and

Square began handling cryptocurrencies,

and credit card giant

Mastercard has also stated it will conduct direct cryptocurrency settlements

within 2021.

With infrastructure taking shape

and Bitcoin continuing to hit new highs,

this is thought to be a contributing factor.

There are recently people who started investing in cryptocurrencies around me, who often ask me, “How should I invest?”

・Consider regular investments

・Don’t invest most of your funds in a single shot

That’s the advice I give.

If you are about to invest in Bitcoin

you hear voices saying prices are already too high and investing is difficult,

but rather than viewing it as “too expensive because it’s the peak,”

you should have a long-term perspective on what Bitcoin will become.

Otherwise, you won’t be able to invest for a long time.

Unfortunately, many people who started investing in cryptocurrencies

tend to focus only on price,

so it’s necessary to read cryptocurrency news and think about the future prospects.

Also, when comparing coins, people say prices are high or low, but each coin has a different supply, so it isn’t fair to compare purely by price.

If you want to compare, it’s better to look at market capitalization.

Additionally, famous venture capital firm

Pantera Capital

has commented on Bitcoin’s future.

https://panteracapital.medium.com/bitcoin-coming-of-age-39d5f5fec374

Bitcoin price forecasts

are progressing faster than scheduled,

and if things go well, it could reach 12 million yen by this summer

as a possibility.

Since this is a possibility,

it should be viewed as a forecast, and there are regulatory risks that could cause Bitcoin to decline.

It is said that including these factors

the risk of Bitcoin dropping is not zero.

Another factor is that the coronavirus acts as a trigger

for large-scale fiat currency issuance, raising inflation concerns.

As for inflation, we haven’t felt it much recently,

but in the future, as social security costs rise, price increases are expected.

【Bitcoin ETF】

Bitcoin ETF discussions

Currently multiple firms have applications; the review deadline could be as soon as the end of April.

Even if the deadline passes, there is a possibility of extension, so it remains to be seen what happens.

ETF would be a major development for Bitcoin investors.

However, the SEC's

ETF listing standards are still unclear.

With Bitcoin,

– New all-time highs

– Institutional investor participation

– Increased demand from private investment funds

There are multiple positive factors, and expectations for ETFs are higher than ever.

【Cardano ADA becomes

listed on Coinbase

ADA coin finally

listed on the United States’ largest exchange

Coinbase

In the domestic market, ADA cannot be traded, but

In the domestic market, there is a reluctance to ADA listing,

but among Japanese investors, ADA is a popular cryptocurrency, and the staking ratio is over 70%.

Many people are staking ADA,

and ADA has not only gained popularity but is widely held.

Even without a domestic listing, ADA maintains high market capitalization and popularity among domestic investors is high; it’s surprising how influential it has become.

ADA was pre-sold in 2016,

and if you had bought 100,000 yen back then, it could be worth nearly 100 million yen by now.

Amazing, isn’t it…

Even so, many people take profits by selling at some point,

and even now, very few hold from the pre-sale to the present without selling at all.

ADA is in the same category as Ethereum in the

smart contract space, but there is little practical news,

so if some platform becomes widely used in the future,

that could become a bullish factor.