Cryptocurrency Market Analysis 【December 13】
Practical Cryptocurrency Investment Article December 13
Dear subscribers
＊Paid subscribers can also view the articles at the private link below.
Please also check the article at the private link.
＊If you have topics you’d like covered in the newsletter or questions, please contact us.
In the Newsletter’sQ&Asection, we will introduce some of them.
The rankings of domestic and international exchanges I choose
are here↓↓
https://bitcoin-newstart.com/bitcoin-account
【Ranked 5th in MagMag’s Newsletter Awards】
In 2020, the major newsletter site
MagMag announced the Newsletter Awards
and we were able to win an award.
（Reference）Ranked 5th in MagMag’s 2020 cryptocurrency newsletter in the Asset Management category!!
※Currently MagMag’s distribution has ended
and this article has moved to
https://bitcoin-newstart.com/2020magmag
【Cryptocurrency Market Analysis】
The price movements of cryptocurrencies since last week
over the past week are summarized as follows
:
Display: Current price (change over the past week)
Bitcoin5,550,000yen (-%
Ethereum450,000yen(-4%）
Ripple93yen（-4％）
Polkadot3,200yen（-%）
Binance Coin62,000yen(-％）
Cardano150yen（-16%）
Uniswap1,750yen（-6%）
ICP 3,000yen（-10％）
Solana19,000yen(-15%)
Avalanche 9,600yen(-%)
Bitcoin has stayed at the same level as last week’s 5.5 million yen.
Bitcoin daily chart
From last week, the chart status is
roughly the same
Considering the current price level,
it can be said that the neckline around the highs from September 7 and the highs from March to May is positioned at an important price level
and the price level is significant
- The price has fallen below the 200-day moving average (orange line)
- A down trend line drawn from the lows of July and September
has been broken downward by price
.
It has entered a short-term range for this coming week.
Bitcoin formed a short-term range since last week,
and the price has been moving around the same level
Since last week, Bitcoin has
been forming a short-range market, with the price
fluctuating around the same level.
.
There wasn’t notable major news last week, but the ongoing attention remains on the Omicron variant (COVID-19 related),
and not only cryptocurrency but stock prices are weighed down.
.
Looking at the price over the past week, major stock indices like the Dow have been slightly
The overall market is somewhat subdued, and it is difficult to predict Bitcoin reaching $100,000 by year-end.
However, the hash rate, which reflects the Bitcoin network’s health, has risen significantly, suggesting that given past Bitcoin prices, a rise could be possible.
Although China banned mining and hash rate dropped,
that level has since recovered to its previous level.
Another piece of news is
MicroStrategy
purchased around ¥9.4 billion worth of Bitcoin on December 10.
MicroStrategy’s
average purchase price has been approximately ¥3.3 million
and the current valuation has reached around ¥400 billion.
This is truly a Bitcoin-centric company.
If Bitcoin price rises, MicroStrategy’s company earnings rise, and its stock price responds accordingly, leading to further gains.
This way of aggressively buying Bitcoin is well known worldwide, and for those wondering when to buy, looking at price charts and considering why MicroStrategy made this move at this timing can be interesting.
【JPYC makes Matsuya Ginza purchases possible】
JPYC is a Japanese yen-stablecoin
This time,JPYC can be used
to purchase items at Ginza Matsuya
in Tokyo.
The equivalent amount of the item to be purchased can be paid to JPYC's
JPYC company,which willprocure the item on behalf from Matsuya.
メリット of using JPYC includes
for example, you can collateralize Ethereum to borrow
USDCand exchange it for JPYC
thus deferring profits to the next year, which benefits those with higher tax rates this year.
If someone in the highest tax bracket wants to buy something and realizes a gain, the tax could be 55%.
However, by deferring the gains, it becomes possible to realize the gain next year.
Of course, even without collateral, you can
convert your holdings toJPYC and
then buy items afterward.
Purchasing directly with a stablecoin is convenient for payments,
so this proxy payment could have advantages, and we expect user feedback to emerge in the future.
【UNICEF to issueNFTnext year】
“The United Nations International Children's Emergency Fund (UNICEF) announced on the 10th that it will release 1,000NFTs (non-fungible tokens) to commemorate its 75th anniversary. The funds raised will be used to promote internet access for schools around the world.”※CoinPosthttps://coinpost.jp/?p=300800
News that UNICEF, a United Nations agency, will issue NFT for the first time.
To purchase these, you will likely need Ethereum-related wallets such as MetaMask.
Thus, it is interesting news that the United Nations and other government agencies are issuing NFT as a form of digital fundraising and outreach.
So, is this NFT valuable?
NFTYou can sell what you bought on a market to other people.
The number 1000 is small compared to the 10,000 CryptoPunks.
Moreover, as UNICEF’s first NFT, it could attract significant attention.
However, with the involvement of government and international organizations issuing NFT, it is still unclear what value they will hold in the future, so investors’ perspectives and how they analyze it will depend on individual viewpoints.
In that sense, there is still no precedent for government-issued NFT value, so investors’ perspectives and how they approach it are likely to rely more on individual viewpoints.
