Practical cryptocurrency investment article September 13

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【Cryptocurrency Market Analysis】

The price move of cryptocurrencies since last week

(one week) is summarized as follows

Display: current price (change from one week ago)

Bitcoin297ten thousand yen (7％）

Ethereum231000yen(2%）

Binance Coin40000yen(5％）

Ripple48yen（4％）

Solana5000yen(10%)

Cardano68yen（-3%）

Polkadot1000yen（0.5%）

Avalanche 2800yen(2.8%)

Uniswap889yen（-3%）

ICP　976yen（-％）

Bitcoin has returned to the same level as last week's price of 2.9 million yen.

Bitcoin daily chart (in USD)

In the daily chart6months from the mid-term, the price had been rising gradually after hitting a short-term bottom, but8month19day saw a large downward adjustment, bringing the price to the current level.

Bitcoin had been rising since the 10th, but recentlyCPI (Consumer Price Index) was released, higher than expected, causing a heavy sell-off, taking it from 22,000 to 20,000 dollars.

Going forward, it seems the current price remains within a range with a ceiling around 26,000 dollars and a floor around 18,000 dollars.

While a rise in price is good, it has fallen again to the attention-grabbing level of 20,000 dollars.

For the weekly chart, the following analysis continues.

・From the late 2017 bubble peak, there was a rebound, and it has risen in the short term with a right-shoulder uptrend, but fell to the June low level

・Below the 200-day moving average (orange line)

situation

Ethereum Merge

Ethereum is currently in the period leading up to a major upgrade, the Merge.

It is said to be planned for the 15th, but between the 13th and the 15th, it may be better to hold off on Ethereum, Ethereum-related stocks, and bridges.

So I have not touched it in particular.

There was information that fees would drop after the Merge, but in reality it is said to drop by about 10%. A significant drop in fees will occur with future upgrades.

In this Merge, it is said that Ethereum’s supply will be substantially tightened, which will affect prices in the medium to long term.

Also in upcoming upgrades, high-speed transaction features are planned, and it is said that the credit cardVISAVISA will process 26000 per second, compared to 100,000 per second.

Speed alone is not everything; it is important to be able to process while maintaining security and privacy.

Starbucks entersNFT business

StarbucksPoygon collaborated to buildWeb3experience “Starbucks Odyssey” was announced.

Polygon is a blockchain, but compared to Ethereum, fees are cheaper and easier to use, which is the reason for adoption.

Ethereum tends to have higher fees because there are too many users.

Starbucks is one of the news items indicating a full-fledged entry into the cryptocurrency andNFTbusiness.

Also, most Starbucks users do not know about cryptocurrencies orNFTNFT, so it will be interesting to see what services are offered to this mass audience.

The news notes that you can purchase NFT (digital stamps) with a credit card, linking the existing payment method withNFTto create a bridge between the two.

Starbucks has long partnered withbakkt(NYStock Exchange’s parent company operates a cryptocurrency exchange) and has been proactive toward future cryptocurrency payments.

So, regarding this NFT, it is one of the related services, but in the future, direct cryptocurrency payments may also be applicable.

Reference article

https://bittimes.net/news/131637.html

MicroStrategy plans to add more Bitcoin

Nasdaq-listed MicroStrategy has announced selling some shares and using part of it to purchase Bitcoin.

This time, with about 72 billion yen in stock sales, they will further concentrate purchases in Bitcoin, showing a very aggressive buy stance.

Among Bitcoin holding companies, Tesla is famous in the US, but Tesla is selling some Bitcoin to hold cash in anticipation of a potential recession.

However, MicroStrategy is taking the opposite approach, and it would be interesting to compare future Bitcoin purchases with Tesla to see how performances differ.

https://bittimes.net/news/131552.html

Cryptocurrency Market Analysis [September 13]