Cryptocurrency Market Analysis [January 11]
Cryptocurrency Practical Investment Article January 11
To all subscribers
＊Paid subscribers can also view the articles at the private links below.
Please take a look at them.
＊If you have topics you’d like covered in the newsletter or questions, please contact us.
We will introduce some in the newsletter's Q&A corner.
The NewsletterQ&Asection will include a portion of it.
Ranking of domestic and overseas exchanges I choose
is here↓↓
https://bitcoin-newstart.com/bitcoin-account
【Ranked 5th in MagMagu’s Newsletter Award】
In 2020, MagMagu, a major newsletter site,
announced the newsletter awards,
and we were able to win.
(Reference) Won 5th place in MagMagu’s cryptocurrency newsletter in 2020 for asset management!!
※MagMagu’s distribution has currently ended
and has shifted to this article.
https://bitcoin-newstart.com/2020magmag
【Cryptocurrency Market Analysis】
The price movements of cryptocurrencies from last week (one week)
are summarized as follows
as of now
Display: Current price (change from one week ago)
Bitcoin4,850,000 yen (-10%)
Ethereum360,000 yen (-18%)
Ripple85 yen (-11%)
Polkadot2,800 yen (-20%)
Binance Coin60,000 yen(-6%)
Cardano133 yen (-13%）
Uniswap1,800 yen (-15%）
ICP 4,100 yen (20％）
Solana15,700 yen(-20%)
Avalanche 10,000 yen(-20%)
Bitcoin has fallen 10% from the previous week's 5.4 million-yen price and is currently trading around 4.85 million yen.
This is the current level.
Bitcoin daily chart
The short-term range we mentioned last week has been breached to the downside,
with the upper limit at 6,000,000 and the lower limit at 5,200,000
which may have accelerated the decline.
The price also fell below the 200-day moving average,
where it had been moving the week before last, and
that too has fallen sharply.
Bitcoin’s current price is at the level from October last year.
Regarding Ethereum’s price,
the decline level is similar to Bitcoin’s, and it is at last October’s level as well.
Ethereum’s decline rate is−20% compared to Bitcoin
—but its price recovered more sharply as well.
Not only in the cryptocurrency market but also in the stock market,
The Fedrate hikes are affecting
it is said.
Former BitMEXCEO Arthur Hayescommented
about this issue that, beyond long-term holders, there are investors who would sell if the price drops to a certain level without hesitation.
If the decline becomes larger, the market capitalization of cryptocurrencies with lower values will drop, and the decline rate will become very large.
He expressed this view above.
Isn’t this roughly the same as the 2018 cryptocurrency market bubble collapse?
However, given that institutional investors are already entering the market, I feel that the 2018 outlook may not apply this time.
But I’m not sure.
【News related to the Metaverse continues】
Currently, news related to the Metaverse continues
· Samsung, a major Korean company, is launching a virtual store on Decentraland
· Disney has acquired patents related to the Metaverse
· Amazon Prime members areblankos receivingNFT for free
distribution has started
· Sony plans to release a next-generation virtual reality (AR) game
· Square Enix, in its New Year’s address, explains Metaverse andNFT
about them
· Energy drink “ZONe” partners with a Metaverse app
· Meta (Facebook) is developingAR andVROSand so on, a very packed content.
Metaverse is closely connected to NFT, games, and land within the Metaverse, so news is likely to continue.
Metaverse-related stocks have already risen significantly, and some investors may be seeking opportunities during this market decline.
