Cryptocurrency Market Analysis [October 5]
Cryptocurrency Practical Investment Weekly Newsletter October 5
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In the NewsletterQ&Asection, we will introduce a portion.
Here is the ranking of domestic and international exchanges I choose
↓↓
https://bitcoin-newstart.com/bitcoin-account
【Crypto Market Analysis】
Many crypto prices fluctuated over the past week
and we have summarized the changes as follows
for the week
Display: current price (change from one week ago)
Bitcoin
5,300,000 Yen (+10％)
Ethereum
370,000 Yen(10%）
Ripple115 Yen（9％）
Polkadot3400 Yen（8%）
Binance Coin46,000 Yen(22％）
Cardano243 Yen（-%）Uniswap2,800 Yen（6%）ICP5,400 Yen（11％）Solana18,600 Yen(24%)Avalanche 7,400 Yen(-%)Bitcoin rose from last week's5,? million Yen price toa rebound to around5,300 Yen price and is movingBitcoin daily chartSince last week's rebound, we can see the top of the short-term downtrend from early in the month breaking upward.○9 From early month, the high of the short-term downtrend has been breached upward.Another indicator is that the○200 day moving average has moved abovetwo key points. However, in the chart the zone is enclosed by three circles,and it has not yet clearly reached the zone above.【BitcoinETF】Last week, BitcoinETF was in the news.CurrentlySEC is examiningETF issues,BitcoinETF,Bitcoin futuresETFEthereumETF,Ethereum futuresETF are said to be under four evaluations.Last week, regarding four applications for BitcoinETF,4 applications, the review was postponed.ETFs are first reviewed in March 2017 by the SEC, and in recent years the number of applications has become the highest, and the SEC itself is under pressure.Additionally,SEC chair GenslerBitcoinETF futures has said the possibility of approval exists.However, the most impactful isundoubtedly BitcoinETF.BitcoinETF is a security,so if it can be traded, those with brokerage accounts can buy immediately,which is a major fundamental factor.Also, Fed Chair Powell has stated“There is no need to ban Bitcoin.” His remarks are seen as one of the bullish factors.Regarding Bitcoin, globally renowned figures like Elon Musk and investor George Soros have shown interest and have suggested in the past that governments might destroy Bitcoin.In the past, Elon Musk also said“Bitcoin being able to circumvent capital controls is appealing.”In such a context, for a major economy like the United States to say it will not ban Bitcoin is a very positive factor for long-term investors.Recently, El Salvador in Central America has been quietly buying Bitcoin,and for developing countries to strengthen their financial assets,this is progressive and I personally support it.（Reference）Crypto assets may supplant currency (Elon Musk）https://bitcoin-newstart.com/eron-musk【Ethereum Blockchain Early NFTNFTworks sold for 13.0 milliontoに落札】The first NFT pieces generated on the Ethereum blockchainnumbered 30 wereNFT sets,were put up for auction at a major UK auction house andsold for an astonishing 130 million yenin price.Looking at the images, many feature Bitcoin depicted inside.Again, as Ethereum-basedNFT,these are seen as valuable because they are among the first works on the platform.SuchNFTbeing the first on Ethereumand clearly traceable on the Ethereum blockchainis a reason for their value.In general, blockchain history is immutable. Therefore, theseworks being created early on Ethereumcan be verified asNFToriginating early on the chain.Very interesting, isn’t it.NFTdoes not automatically mean higher valuein my view, and works like these show that the blockchain enablesverifiable early origin, which is a source of value.（Reference）Christie’s official sitehttps://www.christies.com/lot/lot-6337619?ldp_breadcrumb=back&intObjectID=6337619&from=salessummary&lid=1-%）
Uniswap2,800 Yen（6%）
ICP 5,400 Yen（11％）
Solana18,600 Yen(24%)
Avalanche 7,400 Yen(-%)
Bitcoin rose from last week's5,? million Yen price to
a rebound to around5,300 Yen
price and is moving
Bitcoin daily chart
Since last week's rebound, we can see the top of the short-term downtrend from early in the month breaking upward.
○9 From early month, the high of the short-term downtrend has been breached upward.
Another indicator is that the
○200 day moving average has moved above
two key points.
However, in the chart the zone is enclosed by three circles,
and it has not yet clearly reached the zone above.
【BitcoinETF】
Last week, BitcoinETF was in the news.
Currently
SEC is examiningETF issues,
BitcoinETF,Bitcoin futuresETF
EthereumETF,Ethereum futuresETF are said to be under four evaluations.
Last week, regarding four applications for BitcoinETF,4 applications, the review was postponed.
ETFs are first reviewed in by the SEC,
Additionally,SEC chair Gensler
BitcoinETF futures has said the possibility of approval exists.
undoubtedly BitcoinETF.
BitcoinETF is a security,
so if it can be traded, those with brokerage accounts can buy immediately,
which is a major fundamental factor.
Also, Fed Chair Powell has stated His remarks are seen as one of the bullish factors.
Regarding Bitcoin, globally renowned figures like Elon Musk and investor George Soros
In the past, Elon Musk also said
Recently, El Salvador in Central America has been quietly buying Bitcoin,
and for developing countries to strengthen their financial assets,
this is progressive and I personally support it.
（Reference）Crypto assets may supplant currency (Elon Musk）
https://bitcoin-newstart.com/eron-musk
【Ethereum Blockchain Early NFT
NFTworks sold for 13.0 million
toに落札】
The first NFT pieces generated on the Ethereum blockchain
numbered 30 wereNFT sets,
were put up for auction at a major UK auction house and
sold for an astonishing 130 million yen
in price.
Looking at the images, many feature Bitcoin depicted inside.
Again, as Ethereum-basedNFT,
these are seen as valuable because they are among the first works on the platform.
SuchNFTbeing the first on Ethereum
and clearly traceable on the Ethereum blockchain
is a reason for their value.
In general, blockchain history is immutable. Therefore, these
works being created early on Ethereum
can be verified asNFToriginating early on the chain.
Very interesting, isn’t it.
NFTdoes not automatically mean higher value
in my view, and works like these show that the blockchain enables
verifiable early origin, which is a source of value.
（Reference）Christie’s official site
【Grayscale’s New Investment Trust Holdings】
Grayscale, a major U.S. digital assets manager,
added new holdings to its investment trust
solana（SOL） and UNI.
Solana is one of the currencies that surged this year,
with a gain of about 6,800% over the year.
Solana is famous for fast transaction processing on a
blockchain,
FTX
UNI is the leading decentralized exchange
and shows they are adding interesting tokens.
Grayscale's Bitcoin Trust is globally famous and widely invested in,
but the ETF mentioned here generally has lower purchase fees
and offers more advantages.
Grayscale’s Bitcoin Trust has often traded at a premium, sometimes more than 10% above the normal price,
which I have heard about.
