Cryptocurrency Practical Investment Newsletter April 26

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【Cryptocurrency Market Analysis】

The price movements of cryptocurrencies over the past week

are summarized as follows

for the week.

Display: current price (change from one week ago)

Bitcoin

5,800,000 yen (-5%)

Ethereum

270,000 yen(10%）

Ripple135 yen（-12％）

Polkadot3,500 yen（-13%）

Binance Coin58,000 yen（11％）

Cardano132 yen（-4%）

NEM33 yen（-24％）

Uniswap3,800 yen（12%）

＊For details on coin selection and trading timing,

see the accompanying article in this newsletter at the

bottom section.

Bitcoin had fallen to6,000,000 yen

and then dropped further,23 days earlier to briefly reach5,100,000 yen

before rebounding.

Bitcoin daily chart

From the low of 5,100,000 on the 23rd,

it surged on the 26th to around 5,800,000

yen, returning to that level.

In the previous article I mentioned the possibility of breaking below the

600,000 yen milestone,

and indeed it has fallen below the 560,000 yen level.

Regarding Bitcoin’s sharp rebound,

from 520,000 to 580,000 yen on the 26th,

a rise of nearly 40,000 yen.

On the chart, the resistance line at exactly 580,000 yen

is notable,

and if it clearly exceeds this 580,000 yen level,

the short-term downtrend may be reversing.

【Bitcoin Fundamentals】

The key news about Bitcoin

includes

・Elon Musk’s tweets

・NYSE’s Bitcoin ETF

Two items.

Elon Musk is a globally renowned

entrepreneur, but on the 24th

tweeted about what may be a future valuable asset,

hinting at Bitcoin.

The reason for the hint is that, historically, Musk has

tweeted about digital assets like Dogecoin, Bitcoin,

Ethereum, etc.

Whether this directly caused Bitcoin’s surge is uncertain,

but the timing coincides with a rebound.

AdditionallyNYSE is the New York Stock Exchange,

the exchange with the largest stock trading volume in the world,

and I think everyone has heard of it at least once.

This timeNYSE has submitted aSEC filing for a

ETF application.

NYSE is the first to do so.

Since the end of last year several firms have already applied for a Bitcoin

ETF and the initial deadlines are at the end of April.

Personally, ETF coverage has grown more期待 with institutional investors entering the market,

there is certainly more optimism than before, but given the lack of cryptocurrency

regulation,SEC may

truly approve a Bitcoin ETF or not is something I am watching closely.

HoweverNYSE has

applied for a Bitcoin ETF this year, which is suggestive of a major development.

This could be a game-changer.

ETF tracks cryptocurrency prices, so you can buy it through brokers,

and the tax treatment differs from that of regular cryptocurrencies.

This could further ignite investor participation.

In terms of Bitcoin alone,

Bitcoin ETF may offer a more favorable tax treatment.

AndETF holders do not necessarily own the Bitcoin directly,

which reduces the risk of hacking.

The U.S. SEC’s ETF approvals regarding Bitcoin remain a potentially powerful fundamental driver for Bitcoin.

Is it truly a strong fundamental driver? It could be.

【Ethereum’s Strength】

Last week, the cryptocurrency market fell more sharply than before,

and many investors experienced declines around 40% to 15%.

Declines vary greatly depending on the holdings,

so I think those who held speculative coins like Ripple

may have suffered larger losses.

Among them, Ethereum maintained a high level after peaking at roughly

270,000 yen,

and did not drop below 200,000 yen, staying in the high range.

Smart contract coins such as Ethereum, Uniswap, and Binance Coin

showed resilience to declines.

Therefore, those mainly invested in stable currencies like Bitcoin and Ethereum

likely had higher resilience to downturns than others,

compared to those holding Ripple and other currencies.

There are influencers online who hype certain coins,

but those coins tend to fall more sharply.

This is often because speculative funds sought short-term gains,

creating higher selling pressure during drops.

During such declines, it is crucial to analyze how your holdings overall

performed, not just blame one asset.

・Why did I hold mostly high-downside currencies?

・How did I decide to buy them?

・Why did Ethereum-related coins fare better in the decline?

These are important questions worth considering.

If you tilt investments toward gambling-like behavior, you may end up losing much like gambling.

Think about how you should manage your investments,

whether you were buying only the hype around certain coins.

Instead of chasing temporary gains,

focus on extending profits and minimizing losses to preserve your assets.

How about adopting that perspective?

（Reference）Learning from cryptocurrency crashes

https://bitcoin-newstart.com/btc210423

【NFT Boom: Engine Coin】Engine Coin, which joined the market in January this year on CoinCheck in Japan.

Engine Coin rode the NFT (digital asset) wave well and achieved very high performance.

Its one-year price increase is 25x.

Reasons for Engine Coin’s performance

・NFT boom riding well.

・One-year rise of over 25x

・NFT specialization in JumpNet significantly reduced fees, with participation from Microsoft and Binance

・Listed on Coinbase, the largest US exchange

and other contributing factors.

This is a stock that has been effectively leveraged by keeping a pulse on cryptocurrency trends and managing it well.

（Reference）Engine Coin price analysis and latest news

https://bitcoin-newstart.com/enjincoin

Virtual currency market analysis [April 27]