Cryptocurrency Market Analysis [September 8]

Virtual Currency Practical Investment Newsletter September 8

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The ranking of domestic and overseas exchanges I choose

is here↓↓

https://bitcoin-newstart.com/bitcoin-account

【Cryptocurrency Market Analysis】

The price fluctuations of cryptocurrencies over the past week are summarized as follows

for the week.

Display: current price (increase/decrease from a week ago)

Bitcoin

560万円 (5％)

Ethereum

430000円(20%）

Ripple148円（18％）

Polkadot3600円（18%）

Binance Coin54000円(-％）

Cardano312円（-%）

Uniswap3100円（7%）

ICP　8600円（8％）

Bitcoin has risen from520万円

to the current560万円 price.

Bitcoin daily chart

5月中旬までの

We are outlining Bitcoin’s price range in the chart, enclosing the high-price zone with a box, but the lower boundary of 520万円, the neckline, has already clearly been broken upward on the chart.

This price movement is currently moving around the peak price of

around 700万円as the target vicinity.

The current price of

560万円 is trading above the

3月下旬 low (neckline).

Actually, starting on the 9th day of September, Bitcoin is being officially treated as legal tender in El Salvador, a country in South America.

There is a strong sense that this development is being highly anticipated regarding Bitcoin.

(Reference) About El Salvador adopting Bitcoin as legal tender

https://bitcoin-newstart.com/elsalvador-bitcoin

【Ethereum is rising significantly】

Ethereum has risen by about 20% from last week’s price,

and the current price around 430,000 yen is within reach of the all-time high of 470,000 yen.

Ethereum daily chart

In fact, Ethereum’s price surge recently has been noticeable,

but up until then, coins like Solana and CardanoADA

and others led the rise.

As I’ve been telling you since last week,

the market for digital artNFTis thriving, and many

NFTarts are trading at high prices.

Two weeks ago, VISA revealedthat it purchased a CryptoPunk NFTfor 18 million yen.

ManyNFTare created on the Ethereum blockchain,

and the earnings of the operators are in Ethereum, which when converted to fiat may exert selling pressure.

Some have said this could occur.

However, last weekend Ethereum showed a rise that seemed to release the previously accumulated power.

Last week, a major event for Ethereum was

where the genius developer Vitalik

Buterin answered questions from people who follow him on Twitter.

This included

Elon Musk, the CEO of Tesla

as well.

After this news, I felt Ethereum’s price momentum increase further.

Questions for Vitalik are numerous, but he responds more concretely.

Such a stance likely further increases Ethereum’s value.

The main questions were about Ethereum’s ecosystem.

(Reference) Twitter experiment · Ethereum developer's

philosophy of life

https://bitcoin-newstart.com/vitaliketh-210902

Also, in early August, Ethereum’s

London upgrade (also known asEIP1559)

has resulted in a significant burn of Ethereum, reducing the circulating supply compared to before.

In other words, reducing the issuance of Ethereum to increase scarcity.

（Reference）EIP1559About

https://bitcoin-newstart.com/eip1559-eth

Currently, in many cryptocurrency projects, Ethereum is unquestionably the most notable

and is attracting attention.

If Ethereum becomes a more practical platform for decentralized applications in the future,

its market capitalization could potentially exceed that of Bitcoin,

some say.

As of September 6

Bitcoin market cap: 106 trillion yen

Ethereum market cap: 50 trillion yen

roughly half the market cap.

I am very excited about Ethereum’s future development.

【Star Trek footage comes alive with RNDR】

A hundredth anniversary Star Trek footage has been released.

This 3Dvisuals were created withRNDR

software, namely OctanRender,

ThisRNDRis a decentralized rendering

3Dimages and videos, etc.

RNDRis a cryptocurrency that already can be traded on overseas exchanges.

Is there any connection between Star Trek and cryptocurrency?

CurrentlyRNDRprice is 140 yen.

From last year’s 12 to 14 yen range, I have been accumulating

RNDRin

(I had revealed this in paid portions)

News like thisRNDRitself gains

awareness and I am personally very glad about it.

（Reference） Star Trek footage revived with RNDR’s technology

RNDR”

https://bitcoin-newstart.com/rndr-startreck210830