November is the topic of segwit2x - Virtual currency market comment [Everyone's Bitcoin] - Navi+ - GogoJungle | Auto Trading - Market Analysis

10MonthBTCremained firm.

Bitcoin Gold (BTG) hard fork was moved up and is aiming to begin in November without major disruption. Holders of BTC before the fork are expected to be granted BTG by exchanges starting from 11/1.BTG)BTCholders will receive BTG from exchanges after 11/1.

■ Market reacts calmly

This time, Bollinger Bands were added to the daily chart.

BTC, which had been bought on expectations, temporarily surpassed21days;it seemed to exceed 700,000 yen briefly,24, but when the fork was implemented, it fell. However, during the decline there was strong buying interest, and it rose again after being pushed back by the center line of the Bollinger Bands, which served as a guide.

Although this month had many events, there were no particular surprises, so a steady price rise seems to have occurred.

■ The influence of diversification demand on supply and demand

ThisBTCfirmness is truly puzzling when observed, but by reviewing funds inflow routes and headlines, a certain hypothesis holds.BTCholders who diversify long-term across BTC and altcoins may have temporarily shifted into BTC.

From a hedging perspective, investors who diversify into both altcoins and BTC will receive BTG for free due to the fork, so it can be inferred that they temporarily tilted their portfolio toward BTC.

Until last week, the market theme centered on altcoins with Ripple events, Ethereum updates, and Monacoin surges, so the funds may have flowed back into the BTC market after digesting those materials.BTCrally.

■11月 isSegwit2x on the horizon

To summarize, this BTC fork is not the end. A second fork, segwit2x, is scheduled for next month.

In particular, development problems (developers are currently in short supply) and ideological conflicts make segwit2x seem likely to become tangled up until just before the fork. BTG is less likely to attract market attention than segwit2x.BTG,segwit2x is expected to be more coveted by the market.

There is still a fear that more similar coins could be issued following BTC forks, so even if the market is favorable now, medium- to long-term disappointment could occur. Therefore, until we clearly address how to handle future hard forks, the entire cryptocurrency market could fall when the excitement wears off.

■11月 is expected to be volatile

月 early, if the price of BTC granted by exchanges is high, buying could return due to segwit2x expectations, with a scenario of surpassing 700,000 yen reemerging; conversely, a plunge in BTG could trigger disappointment and BTC could enter a sharp downtrend. There are voices concerned about BTG's stability and transparency, so segwit2x may not progress easily.

At first glance, given the position tilt, selling positions on 10/18 seem to have accumulated; if price breaks above 700,000 yen, buybacks could strengthen, but considering that the recent rise was funded by altcoins, new BTC buyers may be reluctant to purchase.

As a result, there may not be enough buying power to push to new highs, and price movement could show resistance, leading to self-correction. After a self-correction, those who missed the rise may buy the dip, strengthening the uptrend; seasoned traders are mindful of such tendencies, so current market sentiment may be downward. From this perspective,11月中 there may be a significant drop. If so, a correction to around500,000yen could occur.

-------------------------------------------------------------------------------------------

【Author】

Kawata Seio(Kawada Saio)

Traders Securities Market Department Dealing Section

Born in Geneva, Switzerland. Graduated from Keio University.

His world travels provide a grounded, experience-based fan mentality analysis that is persuasive.

Utilizes behavioral economics learned as a student to theoretically analyze market participants' psychological biases and apply them to trading.

Hobbies include shogi; a strong amateur player, the midgame maneuvers benefit reading the next move in the market.

“The crowd is always wrong” is his creed.

【Disclaimer】

The Bitcoin market data and related content provided on this site reflect the author’s personal views and do not guarantee the accuracy or safety by the author, Traders Securities Co., Ltd., or our company. The information is intended as reference only and does not constitute a recommendation of any investment actions or strategies. Please make final investment decisions on your own. Any gains or losses from investing belong to the investor. The author, Traders Securities Co., Ltd., and our company are not responsible for any damages incurred based on this information.

-------------------------------------------------------------------------------------------