[Are you planning to buy at the expectation?] The Bitcoin that has returned continues to rise like this?
Hello everyone, this is Tonton! A steady balance of loss and profit, Tonton@xi10jun1here.
The Bitcoin split crisis that was expected on August 1st was avoided, and as a result some processes were postponed to the 23rd.
Because the processing was completed around 2:00 p.m. that day, I made a few trades....
*Continuing from last time, I have an important notice for paid readers, so I would appreciate it if you could read down to the bottom.
*This column is designed so half of it is free to read, a heart of conscience. Of course, if you read up to the paid portion (weekly updates at 400 yen per month, about 80–100 yen per column), it would be very encouraging!
This Week's Results (July 21, 2017 to July 27, 2017)
First, as usual, the results. I will announce the changes first.
- Last week (through July 21, 2017) assets: 117,738 yen
- This week (through July 27, 2017) assets: 117,419 yen
- Change: -319 yen
Hmm, it went down compared to last week... by 319 yen, though.
Some processes were completed at 2 p.m. on the 23rd, and I traded aiming for the subsequent price movement, but I took a loss. After that, the market stagnated at times and even dropped temporarily, so it seems the market has not fully recovered yet.
Anyway, I’ve turned the losses from the 23rd into a GIF, and would like to analyze it
Trading after some processes were completed on the 23rd
First, please take a look at the GIF image below.
The processing was completed around 2:00 p.m. on this day.
I thought there might be buying when the market stabilized, so I bought when a signal appeared.
But
Stop loss!
Hmm, it didn’t rise as much as I expected.
The crisis was deemed avoidable, and at 2 p.m. on the 23rd some processing was completed. The market jumped from the 200,000 yen range to the 300,000 yen range. Yet the signal did not rise.
So...
Was it a "buy on expectations" market? This week perhaps.
In other words, once it was observed that the crisis was not imminent, expectations grew and the market surged from the 200,000 yen range to the 300,000 yen range. Well, it might be more like a rebound from a drop...
Free Summary: Will the expectation continue? Or what?
This week there was a decline attributed to remarks by a major overseas figure, but now it’s rising. The so-called "sell on the news" will depend on August 1st.
There may still be some turbulence, so until August 1 passes, it might be better to refrain from flashy trades.
Now for this paid column, I will put a bit more effort into analyzing future market trends.
About the paid column
Recently, fx-on sent a notice about "Potential leakage of personal information due to unauthorized access." As a result, credit card payments are currently unavailable, so access to the paid part of the column may be restricted.
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Closing Corner 1: Try shopping with Bitcoin!
Actually, on overseas e-commerce site "FANCY," you can buy products with Bitcoin! It may incur some shipping costs, but it offers stylish items you won’t typically find in Japan!
Instructions for using FANCY are summarized on this blog, please refer to it.
- →How to create an account, register, set up, and purchase on FANCY | Investor Jun of the Yotori generation
- →How to buy items on FANCY with Bitcoin (BTC) | Investor Jun of the Yotori generation
Closing Corner 2: How to file taxes for Bitcoin margin trading (BTCFX)?
You must also report BTCFX earnings for tax purposes! I’ve written a blog post about the results after confirming with the tax office by phone, so please refer to it.
Taxes may be interpreted differently by the tax office or tax accountants. Also, laws can change, which may alter how you file. Before filing, be sure to confirm with your nearest tax office or a tax accountant.
Note: The free portion ends here. The following sections provide detailed analysis and future outlook, so this is a paid section. If you’d like to read more, or if you’d like to support us with a tip, your subscription would be greatly appreciated! Thank you for your continued support!
