Cryptocurrency Market Analysis [May 25]
Virtual Currency Practical Investment Newsletter May 25
Dear subscribers
＊Paid subscribers, please also view the articles under the private link.
記事の下の非公開リンクをご覧ください。
＊If you have topics you’d like covered in the newsletter or questions, please contact us.
If you have topics you’d like us to cover or questions, please contact us.
In the NewsletterQ&Asection, we will introduce a portion of them.
The rankings of domestic and overseas exchanges I choose
are here↓↓
http://bitcoin-newstart.com/exchange-japan-bitcoin
【Cryptocurrency Market Analysis】
The price movements of cryptocurrencies from last week
over the past week are summarized as follows
Summary: current price (change from one week ago)
Bitcoin
4,000 ten thousand yen（-20％）
Ethereum
267,000 yen(-32%）
Ripple94 yen（-41％）
Polkadot2,340 yen（-50%）
Binance Coin34,000 yen（-44％）
Cardano160 yen（-36%）
Uniswap2,400 yen（-40%）
ICP 15,000 yen（-37％）
Bitcoin fell from last week’s5,000 ten thousand yen to
20％ lower,4,000 ten thousand yen price now.
Bitcoin Daily Chart
Two weeks ago it was6,200 ten thousand yen, so last two weeks it fell 20%
You can see last week’s 20% drop and heavy selling.
Since last week, Bitcoin’s chart pattern has formed a head and shoulders (three peaks)
and is a signal of further decline, which is indeed continuing downward.
Regarding the current price range, from last year’s lows,
if you redraw the trendline (diagonal line),
the price is rebounding at roughly that position.
From the perspective of the horizontal line zone,
there appears to be a certain buying pressure at this level.
Additionally, another chart curve below shows
The 200-day moving average line, and this line is often viewed as Bitcoin’s
But the price has slipped below the 200-day moving average,which you can see.
Another recent topic is
stated that he holds Bitcoin.
Ray Dalio has long been known for criticizing Bitcoin, but
with the COVID era triggering mass issuance of fiat currency,
it seems his view has changed.
【About Ethereum’s price】
Ethereum’s price is currently under heavy short-term selling pressure.
Ethereum daily chart
Ethereum’s price rise accelerated
this year4end,
to about 2,000,000 yen, million yenthe slope of the decline is steeper than during rise
This is also a trend drawn from the end of last year,
so price decline seems to rebound at that point.
This month, Uniswap, a diversified exchange, is set to release a technology called
but it has not yet been released, so I’m curious when it will come.
As expected, Ethereum’s
gas fees have become hard to ignore, and
theL2 technology’s potential impact is being watched.
【Bitcoin and Banks’ Power Consumption】
A comparison of Bitcoin, the banking system, and the gold industry
is likely an issue many people are curious about.
Indeed, Galaxy Digital,3 is among those who compared these three.
The conclusion is that Bitcoin has the lowest power consumption among them.
Also, in the financial and gold industriesCO2emissions
I am personally concerned that they do not disclose this information.
Banking systems are often compared to Bitcoin transfers,
and gold mining is compared as a safe asset.
In that sense, this analysis is very
interesting in its content.
Also, Galaxy Digital notes that
Bitcoin network
has high transparency and that its power consumption can be estimated clearly, which is an advantage.
However, the existing banking system does not disclose its power consumption,
which is concerning.
Bitcoin tends to be singled out, but
for global warming, it would be better to have
something to compare it with,
and one wonders if there’s any political motive behind it.
（Reference article）How does Bitcoin’s power consumption compare to banks and the gold industry?
Compare: https://bitcoin-newstart.com/bitcoin-bank-co2
【5月22日 is Bitcoin Pizza Day
May22 was Bitcoin Pizza Day
This day.
This11years ago, Bitcoin payment was
first used, and two pizzas were2 purchased.
It is said that the cost was around
This price matches the historic sale of Da Vinci’s painting for 510 million yen (the highest ever) in 2017.
