Cryptocurrency Market Analysis [June 21]

Crypto Practical Investment Article June 21

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【Cryptocurrency Market Analysis】

The price movements of cryptocurrencies since last week

are summarized as follows over one week

as shown

Display: Current price (change from one week ago)

Bitcoin2,880,000 Yen (-4％）

Ethereum157,000 Yen(-3%）

Binance Coin30,000 Yen(-％）

Ripple44 Yen（-6.7％）

Solana5,100 Yen(-31%)

Cardano67 Yen（-10%）

Polkadot1,100 Yen（17%）

Avalanche 2400 Yen(-13%)

Uniswap618 Yen（27%）

ICP　800 Yen（11％）

Bitcoin has fallen sharply from last week’s 3,000,000 yen to around 2,900,000 yen.

Bitcoin Chart

Last week, Bitcoin briefly breached the important price level of 20,000 dollars (260万円) downward, but two days later it rose again.

Regarding the US policy rate, a hawkish 0.75% had been priced in, and in actual announcements it was 0.75%, after which the price rose.

Although monetary tightening continues, this suggests the 20,000-dollar line was perceived as a key level. Some experts have long believed that breaking below 20,000 dollars would invite further declines.

Looking at Bitcoin’s chart, it has fallen far below the July 2021 low.

To assess past prices further, let’s view the weekly chart.

In this chart, the section in the red box (top) contains the price chart from 2021 onward.

The price range around 3,000,000 yen (including the July 2021 low) has been a highly watched level.

Prices have repeatedly bounced at this level.

However, since it has now fallen below it, more people are looking at prices with a downside bias.

The next price zone is the bottom red-framed area.

One notable point is the orange line: the 200-day moving average.

This line touched and bounced during the COVID-19 shock in March 2020 (red circle).

Therefore, the current price is already just above the 200-day moving average, and compared with the COVID-19 shock, this drop is much larger.

Bitcoin is currently at the 20,000-dollar level and at a psychological juncture above the 200-day moving average.

Given the large impact of the US monetary tightening policy expected to continue, it is thought that a bottom could be formed within the year... though some view it as several years.

Some people seem to have a multi-year outlook.

Even with tightening, it cannot go on forever. It will stop somewhere.

TeslaCEOhas stated that a recession is likely, and this suggests the situation may persist for a longer period.

Also, searches for “Is Bitcoin dead?” have increased, but when I started, it was around 70,000 yen, so I don’t think it’s dead yet.

In asset management, I think it is crucial to adopt a survival-oriented view: whether to keep increasing assets over time and how to survive.

It’s not like earning a passive income where money automatically comes into your account every month after you go to work.

Under these conditions, by focusing on how to raise performance over time (not just in the short term), you can see what actions you should take now.

【About the stocks I’m watching now】

I won’t go into specific stocks in the free portion, but

・BTC integration of IC (In Internet Computer), plus apps and NFTs

・Ethereum Layer 2 project coins

・Social token coins

I am monitoring these while watching for price declines.

Readers have lately voiced that they don’t want to see their asset values or charts when crypto declines greatly, but even if you don’t look at asset values, you should watch the charts carefully and observe project developments to seize opportunities in the next phase.

Because if attractive project cryptocurrencies are available at low prices, aren’t people going to want to buy them?

If you don’t know, you can’t buy.