First year of cryptocurrencies

10DayCBOE,18DayCME saw BTC futures listing one after another, but there was no major change in the market toneBTCwas consolidating around200ten thousand yen due to a sense of digestion of the news.

■10million yen became200million yen

CurrentlyBTC/JPYisaround 200man yen, compared with the start of the year it has grown about20times (!).

I think all the news for the year has been digested. The financial industry as a whole is in a holiday mood, so things should settle down for a while.

Looking ahead, expected news includes continued listing of BitcoinETF, etc.

■ Looking back on this year

2017was hailed as the year of cryptocurrency’s birth, a year that recorded a decisive price movement.

Many participants in the market this time likely started crypto investing this year.

To review as a recap, let us summarize BTC in 2017.

At the start of the year, BTC collapsed due to strengthened trading restrictions in China, falling to the 80,000 yen level.BTCfell to the 80k yen range.

From this period, the Chinese investors who supported BTC up to 2016 disappeared, and American, Korean, and Japanese participants started joining the market in their place.

月 - In April, with the revised Funds Settlement Act, cryptocurrencies began to be treated as investment protection, and Japan, leading in creating a favorable investment environment, attracted new funds. This was well received in the market.BTCrose on an upward trajectory, and with more leverage trades, price movements accelerated.

月 due to a surge in trading volume, approval speeds could not keep up, raising concerns about system vulnerabilities. As a result, aroundBTCspec changes led to conflicts among engineers, exchanges, and miners2split into two, creating a situation where7mid-month BTC dropped toBTCto around200,000yen.

However8month onwards, the ICO (cryptocurrency-based fundraising) boom became a market theme, andBTCentered a rally. From this time, media attention rose and the pace of ascent accelerated.

9月 ICO300,000yen.

Nevertheless, in contrast to JPMorgan, American major securities Goldman Sachs considered entering the cryptocurrency business, signaling a return to calm in the market. Moreover, from this period, BTC continued to fork and split into various cryptocurrencies, which came to be viewed as a kind of boom, fueling another rise. This period saw Japanese retail investors’ trading volume become the largest in the world, and the Bitcoin FX product, leveraging such positions, became a massive hit.

And in11 month, BTC hit the milestone of100万円 and10,000dollars almost simultaneously, leaping to the200万円 range. The listing of futures, as a source of funds for institutional investors, was announced for December, strengthening the bullish outlook and causing sellers to disappear. It was a clear moment of momentum in the market.

And BTC rose by more than1002,000,000yen.

■ Next: New Year

It has been a big1 year, but many may want to take it easy during the New Year as excitement cools.

However, even during the New Year, please manage your positions carefully.

There is no New Year in overseas markets. Taking advantage of Japanese investors taking a break during this period is a market convention. Still, there is broad consensus that the current market is driven by Asian participants, so sudden declines may not be that likely.

But to be prepared for unforeseen events, if you are fully off, consider reducing part of your positions.

Finally, based on the author’s activities this year, I’d like to close with one piece of advice.

The market is a living thing.

I feel daily that only by staying with it for a long time can we truly understand each other.

In any market, aim to invest so you do not lose, rather than trying to win.

If you do not lose, you will surely win.

Cultivate a hatred of losing.

If something happens, calmly remember these words.

Well then, have a happy new year.

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【Author】

Kawada Saiou(Kawada Saiō)

Dealings Section, Trading Desk, Traders Securities

Born in Geneva, Switzerland. Graduated from Keio University.

Having traveled the world, his real-life experience-based fan mental analysis is compelling.

Utilizing behavioral economics learned in college, he analyzes market participants’ psychological biases theoretically and applies them to trading.

Hobbies include shogi, with amateur high-dan skills. The tactical play in the mid-game is useful when reading the next move in the market.

“The crowd is always wrong” is his creed.

【Disclaimer】

The Bitcoin price and other market information content provided on this site reflects the author’s personal views. The author, Traders Securities Co., Ltd., and our company do not guarantee the accuracy or safety of the content. The information is intended as a reference and does not constitute a recommendation of specific investment actions or strategies regarding cryptocurrencies. Please make the final investment decisions yourself. Profits and losses from investments belong to investors. The author, Traders Securities Co., Ltd., and our company are not liable for any damages arising from using this information.

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