Cryptocurrency Market Analysis [January 17]
Cryptocurrency Practical Investment Article January 17
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The rankings of domestic and international exchanges I choose
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https://bitcoin-newstart.com/bitcoin-account
【Magmag's Newsletter Award 5th Place】
In 2020, the major newsletter site
Magmag announced the Newsletter Award
and we were able to win a prize.
(Reference) 2020 Magmag cryptocurrency newsletter, 5th place in the Asset Management category!!
※Currently Magmag distribution has ended
and this article has transitioned to this one.
https://bitcoin-newstart.com/2020magmag
【Cryptocurrency Market Analysis】
The price changes of cryptocurrencies since last week
are summarized here as follows
Summary: current price (change from one week ago)
Bitcoin490ten thousand yen (1％)
Ethereum370000yen(3%）
Ripple87yen（-％）
Polkadot3000yen（-%）
Binance Coin54000yen(7％）
Cardano175yen（30%）
Uniswap1900yen（5%）
ICP 3500yen（-17％）
Solana15700yen(-20%)
Avalanche 10000yen(-20%)
Bitcoin formed a short-range consolidation at the same price as last week's drop, with prices settling down.
Bitcoin daily chart
The current situation is
・Last yearOctoberprice level
・200-day moving average remains below
・Forming a short-term range (460 to 510 million yen)
Last week, cryptocurrency prices were somewhat calm, but the recent big rise of ADA was due to the release of DeFi.DeFiwas released.
People who have held CardanoADAfor a long time sometimes say Cardano is the most technically advanced, but the crucial ecosystem has not spread, so perhaps that statement is not applicable to the current situation.
Currently, there are downsides to Ethereum such as high fees, but since last yearDeFi, NFT, Gamefi, etc., have created various demands, and to facilitate these trades this year is expected to see significant growth inL2 (Layer 2).
Ethereum-basedNFTalsoBYC (Ape NFT) being purchased by Avex chairman and rapper Eminem among celebrities.
CardanoADAthis time’s surge may be due to the anticipation of DeFi adoption, but given that services are lagging, concrete outcomes are more important than mere expectations.
【Dogecoin enables Tesla merchandise purchases】
Last week’s news surprised that Tesla, the major U.S. automaker, apparently began accepting Dogecoin for some merchandise.
Dogecoin has since the preceding year been boosted by the frequent statements of its CEO Elon Musk, and this marks a move toward practical use.
Dogecoin itself appears to be in the phase of product expansion, with further practical improvements planned.
As a trial, some products accept Dogecoin payments. It is expected that eventually you may be able to buy a car.
Before that, whether Bitcoin payments recover is also a topic to watch.
Elon Musk himself has stated that if CO2 emissions from Bitcoin mining are reduced, he would resume Bitcoin payments, and reports indicate that the CO2 reduction goal has already been achieved. It is worth watching at what stage and how payments will be resumed.
Reference site
【Hiroyuki criticized Bitcoin harshly. His response has issues】
Ms. Kunikō of the blockchain-related company explained on AbemaTV about web3TVandweb3, investment methods, etc.
to him,
“BTCpayments take 10 minutes, not usable.”
“ETHonly makes money for those who own it. Is there anyone giving it away for free?”
“Blockchain is all public, so there is no privacy.”
He delivered sharp criticism.
The one-sided criticism was very uncomfortable to watch.
It felt like not listening to experts and only criticizing.
Regarding Bitcoin payments, El Salvador has adopted Bitcoin as legal tender and introduced Lightning for small payments.
He may be saying it takes 10 minutes, but this current situation may be something he did not know (forgot?).
Also, for small payments, you do not necessarily have to use Bitcoin; other currencies or credit cards can be used. There are many payment methods.
There are many uses for sending overseas earning funds in Bitcoin, holding as an asset, large purchases like cars, and more.
It is not limited to small payments alone.
Also, people say blockchain has no privacy because transaction histories are public, but it does not mean personal information is listed.
Because the transaction history is public, it is possible to understand fair and transparent trades.
If privacy is needed for business-to-business transactions, you can simply use those technologies.
What makes Bitcoin and other cryptocurrencies so notable is that there is no administrator; the economy operates with participants.
Even if Hiroyuki criticized unilaterally, the current flow will not change. It may be necessary to understand not only Bitcoin but also Ethereum ecosystem and why things are the way they are.
He may not have time for such things, though...
【Interview with notable investor Fuuさん】
Currentlyon Twitterand other platforms, a feature video of a notable individual investor Fuuさん has been released.
The content covers various areas, including Internet Computer,Web3, Elon Musk, investment methods, and more.
Fuuさん is one of the big investors who has held Ethereum since around 1000 yen (though it seems to have started around 100 yen). ww
Currently he is building wealth while living, and he continually watches cutting-edge trends such as cryptocurrencies, AR, VR, etc.
Usually quick profits attract attention, but Fuuさん looks at how projects will evolve in the future from a unique perspective.
He is a cool investor who does not engage in short-term trading and continues to hold attention-grabbing coins.
There is a lot of valuable content about encountering cryptocurrency, web3, investment methods, Internet computer, and more.
【 Fidelity, a major U.S. investment firm, outlines 2022 cryptocurrency market prospects】
Fidelity, a major U.S. asset management company, outlines its 2020 outlook.
・If proper regulations are established, financial services using cryptocurrencies will increase.
・Mining will become more distributed due to the Chinese ban, strengthening security.
・With the expansion of the cryptocurrency ecosystem, cross-chain bridges will become more important.
That is all.
Regarding regulation, there are discussions about tying wallets for personal use so whose wallet it is can be identified, and accepting transfers only from wallets that have filed notices.
Also, regarding Bitcoin mining, China used to hold a large share, but after last year’s government ban, the mining hash rate dropped significantly.
However, presently the hash rate has recovered to the same level without China, and mining has shifted from a monopoly to broader distribution.
Furthermore, many studies show that CO2 emissions from China’s power-intensive mining have greatly decreased due to the ban.
Reference article
https://bitcoin-newstart.com/bmc-bitcoinminigreport1
Regarding the last cross-chain bridge, it is a technology for interacting between different blockchains; last year, chains that were hot topics includedSOL,AVAX,MATIC,and EthereumL2and other bridges between these different chains are expected this year.
HOPandconnextbridges sites are expected to evolve this year.
(Reference articles)
【Goldfinch airdrops funds】
Last year, Goldfinch, which I wrote about, distributed cryptocurrency for free to people who had deposited money, etc. (a so-called stimulus).
I was able to receive about 770,000 yen worth.
Some readers of my article (paywalled section) also had holdings, and I’m glad for that.
(Reference article)
https://bitcoin-newstart.com/goldfinch
