Virtual currency market analysis [May 4]
Cryptocurrency Practical Investment Newsletter May 3
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Here is my ranking of domestic and international exchanges
はこちら↓↓
http://bitcoin-newstart.com/exchange-japan-bitcoin
【Cryptocurrency Market Analysis】
The price movements of cryptocurrencies since last week
over the past week are summarized as follows
Summary: Current price changes from a week ago
Bitcoin
6,200 ten thousand yen (18%）
Ethereum
370,000 yen(50%）
Ripple170 yen（52％）
Polkadot4,000 yen（27%）
Binance Coin73,000 yen（34％）
Cardano148 yen（26%）
NEM38 yen（30％）
Uniswap4,600 yen（27%）
Bitcoin has risen from last week's5,600 ten thousand yen
to currently6,200 ten thousand yen
and remains at that level.
Bitcoin daily chart
Looking at the chart,
the trend line drawn from the December 2020 lows
touches around the recent week's low of
last week's low520 ten thousand yen,
which may be a coincidence. Interesting.
We are in a price range between7,000 and5,200
We analyze this as a range.
As you may already know, Ethereum has continued to hit new highs while Bitcoin’s price remains
calm as it has not yet updated its all-time high
of 7,000 ten thousand yen.
In terms of market share,
Bitcoin share of the crypto market
・Bitcoin46％
・Ethereum15％
shows a notable increase in the portion held by Ethereum.
Bitcoin used to hold over 60% of the total share.
That said, the share has ebbed and flowed between Bitcoin and altcoins.
altcoin to Bitcoin and Bitcoin to altcoin, alternately shifting.
When the market is sluggish, Bitcoin’s share tends to rise.
Regarding Ethereum’s rise, it isn’t just Bitcoin profit-taking flowing into Ethereum;
there are fundamental investments entering Ethereum as well.
We feel that there are investors putting fresh money into it on a fundamental basis.
【Ethereum hitting new highs】
Ethereum price surge shows no signs of stopping.
Ethereum daily chart
4月21日に節目の価格である27.5万円
was broken upward from there, and the price rose rapidly.
Also in dollar terms, Ethereum reached a historic
price of3,000 dollars,
and today5月4日 Ethereum climbed further to
37万円
Key features of this move include
・Annual price increase of an astonishing 1,445%
・DeFi trading volume rising steadily
・Bitcoin has yet to set a new all-time high
and the possibility of institutional investors buying Ethereum
・expectations for Layer 2 to reduce fees
This is what we point to.
I had wondered if institutional buyers were entering the market, and
today
5月4日に a breaking news update.
“Mogo is a fintech company listed on the U.S. Nasdaq and the Canadian Toronto Stock Exchange. This time, as corporate investment, they acquired4,400万円 worth146ETH at an average price2,780 dollars.”
This news is circulating.
There may be others buying as well...
Also, regarding Ethereum fees reduction
EIP-1559 is set to be implemented in
7月
will bring further stability to Ethereum’s pricein the future.
（For reference）What is Ethereum’sEIP-1559?
https://bitcoin-newstart.com/eip1559-eth
There is also another technology called Layer 2 that uses a different
blockchain to drastically reduce fees
and is being adopted,DEX-centered now,
and in early May, major
DEXUniswap will release
.
a version that supports L2 calledV3
（For reference）What is Layer 2?
https://bitcoin-newstart.com/layer2
Both are important factors driving Ethereum price increases,
so if you’re interested,
even just to understand the outlines,
it will help inform future investments.
【BitcoinETF examination delayed】
4end-of-month deadline
VanEckBitcoinETF examination
has been postponed by the U.S. SEC.
Regarding ETFs, expectations have been high, sothis delay leaves room for interpretation...
4month NYSE (New York Stock Exchange)
had applied for a BitcoinETF, which is a significant move,
but the review will take45 days.
In Canada, BitcoinETFis already available, so the U.S. is likely not far behind,
and it will be notable whether the SECwill approve a BitcoinETF in the near future.
BitcoinETFfundamentals are strong, and if approved, could have a large impact on the industry and capital inflows.
【Tesla partially sells Bitcoin】
Tesla, the global automaker, disclosed that it sold Bitcoin.
Tesla reportedly sold300 billion yen worth, while the amount Tesla had purchased was1,600 billion yen, at the time at about $40,000 per BTC.
If the price rises to $60,000, the asset value would be2,420 billion yen.
800 billion yen of unrealized gains would be.
From there,300 billion yen of gains booked.
That is how I interpret it.
Tesla’s Bitcoin purchases were concentrated around January and February this year,
and by booking gains this time, they may be signaling to shareholders that they
are able to profit from Bitcoin investments.
Some reports suggested shareholders strongly opposed.
However, Tesla’s profit-taking may make it easier for future Bitcoin investments.
I think this could create a more favorable environment for Bitcoin investments going forward.
【This serialized article ranked6,000 people and selected
12th place】
This serialized article has been selected among registered users of the management site Gogojungle.
Number of registered users6,000 people,
Top12 place was chosen.
https://www.gogojungle.co.jp/users
With the recent surge in the cryptocurrency market,
FX flows into cryptocurrency investments may be a contributing factor.
When the market is sluggish, more people may avoid reading articles, but
the people who profit most from cryptocurrency are those who have subscribed from the beginning.
＊2017 year-end bubble burst left subscribers significantly reduced.
Those who continue to read have earned substantial profits.
In 2018 when the market was stagnant,2018 and 2019,
the profits today are the result of those investments from back then,10x
Investing during rising markets and then stopping when prices fall is not investing but
There are almost no markets where prices rise forever. Consider when your money has yielded the largest profits.
Also, evaluate whether the stocks you invest in will grow in the future.
Not only price but social trends and the fundamentals of each stock are very important.
And when you lose money, it’s crucial to reflect on
whether your stock selections were correct.
whether portfolio rebalancing is necessary?
whether you were only looking at price?
why this stock grew but that stock did not?
Reflecting on these points is very important.
