Cryptocurrency Market Analysis【November 1】
Practical Cryptocurrency Investment November 1
Dear subscribers
＊Paid subscribers, please also view the article under the non-public link.
＊If you have topics you’d like us to cover or questions, please contact us.
＊In the newsletter’s Q&A corner we will introduce some of them.
Here is the ranking of domestic and international exchanges I choose
↓↓
https://bitcoin-newstart.com/bitcoin-account
【Cryptocurrency Market Analysis】
The price movements of cryptocurrencies since last week
(one week) are summarized as follows
Summary: current price (change from one week ago)
Bitcoin7,060,000yen (1%)
Ethereum
496,000 yen(7%）
Ripple124 yen（-％）
Polkadot5,100 yen（6%）
Binance Coin60,000 yen(11％）
Cardano225 yen（-6%）
Uniswap2,900 yen（-2%）
ICP 5,000 yen（-2％）
Solana23,000 yen(-%)
Avalanche 7,300 yen(-2%)
Bitcoin reached last week’s high of
7,60 million yen, but afterward
the price fell and is currently around7,10 million yen level
with prices moving around that level.
Bitcoin daily chart
The current Bitcoin price level is
This year4 month, having reached the all-time high
before (the line drawn on the chart image), and previously
it fell in a short period; this time Bitcoin’s price
remains within that price band.
For Bitcoin, Bitcoin
ETFfutures were the trigger
for this price rise, but
going forward
· BitcoinETFspot approval potential
· Tesla’s Bitcoin payments resumption
these two are the points of focus.
BitcoinETFspot availability
recently there have been no positive remarks from theSECregarding approval
making year-end approval seem unlikely.
As for Tesla’s Bitcoin payment resumption
this year6 month, Tesla said it paused due to environmental concerns,
and may restart again.
This is linked to the fact that China stopped domestic Bitcoin mining,
which has reducedCO2 emissions from mining because China’s share diminished.
In terms of possibility, Tesla’s Bitcoin payments could come earlier
CO2emission reduction is one reason for the improvement.
In terms of potential, Tesla's Bitcoin payments may come ahead of
ETFand we should watch for this movement going forward.
Also, El Salvador purchased Bitcoin again on10 month28 day.
Bitcoin priced around670 million yen.
From the chart, I feel it was a nice timing to buy after a significant price drop.
Perhaps there is a Bitcoin maxi who advises the president.
There may be a Bitcoin maximalist advising the president.
※Maximalists are Bitcoin maximalists
who have held Bitcoin for a long time
large investors
【Ethereum commemorating50 million yen mark】
Ethereum recently reached a new all-time high price of
50 million yen.
Ethereum is also a large portion of my cryptocurrency
assets, which makes me very happy.
Last week Facebook changed its company name to Meta (Meta)
and the price of Ethereum is believed to be affected by this.
Meta stands for the metaverse (virtual space)
and it is believed Facebook will expand assets and services
in virtual space in the future.
Regarding metaverse-related stocks,
these have long been mentioned in this article
「Decentraland (MANA）」 and
「The Sandbox (SAND）」,
which have seen significant price increases.
These two tokens are Ethereum-based2 tokens (ERC20)
and their price increases may have helped push Ethereum's price upward this time.
IIn 2019 I started coveringMANAhere,
so some readers may have performed very well due to this rise.
Back thenMANAwas around3.5 yen, and it rose to around400 yen.
Because of the price rise,120 times increase occurred.
This is how Ethereum’s resilience compared to Ripple and other older currencies is notable,
since Ethereum’s ecosystem expansion (DeFi and
DeFi andNFT etc.) plays a large role.
Investors who anticipated this early have built substantial wealth.
Also last week on the27th, Ethereum’s
update called Altair was implemented. It brings us closer to the main update Ethereum 2.0.
According to recent information, Ethereum 2.0 update is expected to occur in
February2 of next year, according to developers. (Possible shifts)
There are views that it may be pushed to
later.
【What about global inflation?】
Twitter’sCEO is Jack Dorsey
And Tesla’sCEO is Elon Musk
They have both commented that global inflation is occurring.
Inflation means a decline in value,
with large amounts of fiat currency being issued globally,
leading to a drop in fiat currency value and rising prices.
This is said to be causing prices to rise significantly.
What is common to these two people is that they hold Bitcoin.
When fiat currencies lose value due to inflation, their response is worth considering.
In light of that, what should be done?
【Mastercard plans to enable Bitcoin payments at merchants】
Mastercard, a global credit card company, announced plans to enable cryptocurrency payments at merchants.
In short, using credit or debit cards to buy goods with Bitcoin
would become possible.
If you pre-store Bitcoin in a wallet and use a card for payment,
it would be automatically sold at the current exchange rate to facilitate the purchase.
Another notable point is that the payment network
involved with storing crypto and the settlement rate
has partnered withBakkt (Bakkt)
Bakkt is a cryptocurrency exchange operated by
its parent companyICE, the New York Stock Exchange’s affiliate
Bakkt has also partnered with Starbucks and
Microsoft to offer services enabling cryptocurrency use in daily life.
It’s a collaboration between two major giants. This is a news item indicating that digital assets may become more usable in everyday life.
（Reference site CoinPost）
