Virtual currency market analysis【October 19】

Crypto Practicum Investment Newsletter October 19

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In the NewsletterQ&Asection, we will introduce part of it.

The ranking of domestic and international exchanges I choose

is here↓↓

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

【Crypto Market Analysis】

The price changes of cryptocurrencies since last week

are summarized for the week as follows

Overview: current price and change from a week ago

Bitcoin7,000,000Yen (14％）

Ethereum

430,000Yen(11%）

Ripple134Yen（-％）

Polkadot4,700Yen（23%）

Binance Coin54,000Yen(20％）

Cardano244Yen（-1%）

Uniswap2,800Yen（-%）

ICP　4,900Yen（-2％）

Solana18,000Yen(-12%)

Avalanche 6,200Yen(-1%)

Bitcoin rose from last week’s6,300万円

and after the BitcoinETFfutures approval news

its price surged to the year’s highest price of7,100万円 was temporarily

surpassed.

The reason Bitcoin hit a new high this time

was the BitcoinETFfutures approval.

During the period when the SEC in the U.S. was reviewing ETFs,

Chairman Gensler was positive about futures ETFs, leading to high expectations that they would be approved overseas, but in reality, that is what happened and approval was granted.

In the market, expectations like this can differ from actual outcomes,

and domestic investors who feared a potential Bitcoin rejection

could cause a sharp drop may have existed.

AlsoETFrelated news, as mentioned last week,

some cryptocurrency-related companies’ stock prices were linked

ETFto the positive direction,ETFon a positive note,

and further futures ETF approvals followed the next week.

Ultimately, BitcoinETFis the real thing among the spot market

and is also considered to have a significant fundamental impact

on prices.

Later this month (the 25th), another BitcoinETFfutures

approval deadline approaches,it is expected to be reviewed

for potential approval.

When Bitcoin futures first launched on the CME in January 2018,

the price impact was not very large, but now the impact is expected to be greater due to high expectations.

(Reference article)

Bitcoin’s peak price and

futuresETFapproval

https://bitcoin-newstart.com/btc211016

【Unlocking FLOW and turbulent markets】

Last year9monthly investment cap10million yen

was offered in a saleFLOW.

As of last week, its valuation reached around

20 million yen, and half of that would be unlocked on Friday night

for disposal.

So at unlock time

investors could sell FLOW worth up to 10 million yen per person

cryptocurrencyFLOWbeing unlocked, allowing selling

to occur.

Initially reports claimed midnight unlock,

but it was actually around 9 PM, and as soon as the unlock occurred, price collapsed rapidly from

$17 to $8 to $13 in one night.

However, this fluctuation occurred on the exchange where FLOW was listed for unlock

and not as much on other exchanges.

I had not experienced unlock events like this to this extent, but it left a very memorable impression.

In the end, from my perspective, prices did not fall sharply and rebounded

which indicated the momentum of FLOW for the futureFLOWwas still strong.

Those who took profits at a good point earned around 8,000,000 yen, and a 100,000-yen investment yielded substantial returns.

Going forward, the remaining half ofFLOWwill be unlocked gradually, but the FLOW project

is steadily advancing with NFT as its main focus,

and we will continue to watch its developments.

(Reference article)

FLOWunlocking prices and the situation

https://bitcoin-newstart.com/flow211017

【Is L2 the main thing? Test of ZksyncL2on the net】

A blockchain that improves Ethereum’s fees

called L2L2 (Layer-2)

is said to be the main bet

Zksynchas launched a testnet on Uniswap.

The testnet is in trial phase; I also used test currency to trade,

and trades completed in 0.3 seconds, making it very user-friendly.

L2already has major chains like Arbitrum, Optimism

and Polygon, but I personally expect various services to emerge from different chains in the future.

The Ethereum ecosystem continues to attract many users,

and while expanding services, it keeps improving,

and blockchain apps maintain a commanding scale.

Even those who trade only on domestic exchanges

should keep this trend in mind when making investment decisions,

I think.