[8/1 Safe Passage] No major disruption to Bitcoin! What happens from here?
Hello everyone, BTC! This week I took a bit of a loss@xi10jun1.
The Bitcoin split on August 1 passed without major incidents, smoothly. With the split, Bitcoin Cash seems to have been born. Can it be used, this one?
Now, I will continue trading, but next there appears to be a split crisis again in November, so I wonder how to proceed from here.
※As with the last time, there is an important notice for paid readers, so I would appreciate it if you could read further down.
※This column is designed so that half of it can be read for free, a conscience-leaning design. Of course, if you read the paid portion (updated weekly for 400 yen a month, so about 80–100 yen per column), I would be very encouraged!
This Week’s Performance (July 28, 2017 – August 3, 2017)
First, as usual, the performance. I’ll present the changes first.
- Last week (up to July 27, 2017): 117,419 yen
- This week (up to August 3, 2017): 115,230 yen
- Change: -2,189 yen
Hmm, it dropped even more than last week…
Since the processing on August 1 was at around 21:20, I thought trading would be fine before volatility spikes, but the losses there were large…
It even went above 118,000 yen briefly, but it has become rather stagnant. I’ll gradually increase it again toward next week.
For now, this week I will look at the price movement around 21:20 on August 1.
Price Movement Around 21:20 on 8/1
First, please look at the GIF image below.
This shows the price movement for 10 seconds around 21:20 on 8/1.
The order book is in a BUSY state, so taking a position here is quite dangerous. If the market suddenly moves drastically or bitFlyer’s lightning goes down, you could be completely wiped out.
In the end, there wasn’t a big turmoil, but the moves just before were quite rough.
A little earlier, I saw a clash of 100 BTC to 500 BTC, and if you get caught in that, your money would disappear in an instant, surely.
Therefore, you need to gather information about the Bitcoin world to some extent. In particular, keep track of the exact time something is processed.
Free Summary: Keep an Eye on Crypto Event Timelines
Unlike USD/JPY, in the world of cryptocurrencies the exact times when information will be released in Japan is still uncertain.
For such a major event as this, information is spread widely, but small details may be missing.
Be careful not to trade unknowingly and incur a big loss!
Now regarding this paid column, this week as well I will continue to focus on analysis of future market trends.
Regarding Paid Column Access
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End Column 1: Shopping with Bitcoin
Actually, the overseas e-commerce site “FANCY” allows you to buy products with Bitcoin! It may incur some shipping, but there are stylish items not seen in Japan!
For how to use FANCY, I have summarized it on this blog, so please refer to it here.
- →Explaining how to create an account, register, set up, and purchase on FANCY | Lazy Investor Jun
- →How to buy (settle payment) with Bitcoin on FANCY | Lazy Investor Jun
End Column 2: How to File Taxes for Bitcoin Margin Trading (BTCFX)?
You must also file taxes on BTCFX profits! I’ve blogged about confirming this with the tax office, so please refer to it.
Note that even the tax office or accountants may have differing opinions. Also laws can change, affecting how you file. Before filing, be sure to confirm with your nearest tax office or a tax professional.
Note: Free access ends here. Below is detailed analysis and future outlook, so this section is paid. If you want to read more, of course, supporting the column with subscriptions is greatly appreciated! Thank you for your continued support!
