Virtual currency market analysis [December 7]
Practical Cryptocurrency Investment Article December 7
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The rankings of domestic and international exchanges I choose
are here↓↓
https://bitcoin-newstart.com/bitcoin-account
【Awarded 5th place in Mag2 Magazine Award】
In 2020, at the major newsletter site
Mag2, the newsletter awards were announced
and I was able to win
(Reference) 2020 Mag2 cryptocurrency newsletter Asset Management category 5th place!!
※Currently Mag2’s distribution has ended
and has moved to this article.
https://bitcoin-newstart.com/2020magmag
【Cryptocurrency Market Analysis】
The price fluctuation of cryptocurrencies since last week
(one week) is summarized as follows
Display: current price (change from one week ago)
Bitcoin5,83 million yen (-11％）
Ethereum500,000 yen(-%）
Ripple95 yen（-15％）
Polkadot3,300 yen（-21%）
Binance Coin67,000 yen(-5％）
Cardano166 yen（-6%）
Uniswap1,991 yen（-13%）
ICP 3,600（-27％）
Solana23,000(-%)
Avalanche 10,700 yen(-10%)
Bitcoin has fallen sharply from last week's 6,500,000 yen
and is currently around 5,500,000 yen.
Bitcoin daily chart
Bitcoin began a large drop from December 3rd,
temporarily dropping below 5,000,000 yen,
but has since recovered to 5,500,000 yen.
Considering the current price level,
it can be said to have the neck line of the high price range from September 7 and from March to May as a key price position
and
the 200-day moving average (orange line) shows a rebound
from it
and the trend line drawn from the lows of July and September
is broken downward by price
This is a feature on the chart.
Regarding the drop, it seems not only the cryptocurrency market but also
the stock market is declining, and some say it's due to the Omicron variant.
When the financial markets collapsed in March 2020,
it felt similar.
However, since then, massive issuance of fiat currencies
has occurred, and the value of financial assets has
shown strong performance across the board, which is
a well-known fact.
Even though there was a crash, the role of financial assets as a hedge against fiat currency inflation
has not fundamentally changed, perhaps.
Do you think so?
Even I, who saw a large drop this time,
certainly reduced assets, but
it isn’t a short-term trade, so it didn’t hurt much.
Friends who do not invest in cryptocurrencies
sometimes say, “Bitcoin dropped a lot, right?
It’s risky, right?”
and I hear such things, but
they didn’t buy right before the crash,
so personally, it’s nothing special.
Rather than “it rose briefly and then fell,”
it’s necessary tolook further ahead
to see what Bitcoin will do and how it works.
【Metaverse Association established domestically, but...】
“The General Incorporated Association Japan Metaverse Association includes cryptocurrency exchange operatorsFXCoin Co.,CoinBestCo., as well as intelligence units providing cryptocurrency investment solutions, and Ginco providing wallets,GincoCo., and calls for other online financial companies and game companies to join. The representative director will also be listed as a director of the Japan Virtual Asset Exchange Association (JVCEA).FXCoin’s Daiki Onishi will take the post.”
Reference sitehttps://coinpost.jp/?p=299136
Regarding the Metaverse (virtual space), there has been a lot of buzz recently, and in Japan, news like this has appeared.
Regarding the Metaverse,facebook renamed its company to Meta, drawing major attention, and last week Adidas, a major sports brand, purchased
Sandbox virtual land.
Speaking of the Metaverse, it is still a kind of trademark for cryptocurrency exchanges,
but I don’t feel familiar with this exchange’s members.
Regarding the Metaverse,SANDBOX has partnered with it,
and seems that Coincheck is more actively
getting involved, such as buying virtual land.
Moreover, Coincheck is publicly offering for users the land it has acquired withinSANDBOX.
It is not clear why this particular group was chosen,
but personally I have doubts about some members
and what they represent.
【Avex’s MatsuuraCEO purchased
NFT CryptoPunk
Avex’sCEO,
Matsuura is said to own one of the world’s topNFTpieces
and has reportedly purchased it.
The CryptoPunk he purchased
seems to be used as his Twitter icon.
Speaking of CryptoPunks
This yearVISA purchased one for 17 million yen
and caused a major stir in
NFT art.
The amount of the CryptoPunk purchased by Matsuura is
an astounding 70 million yen.
Quite a large amount.
Matsuura alsoSANDBOX has
acquired land in
the Metaverse and NFT.
Such news of companies and celebrities buying land or NFT in the Metaverse may increase in the future, but
there are also many ordinary individual investors who have already started investing early,
and the ability for individuals to act quickly as trends shift is a major advantage,
don’t you think?
References
