Cryptocurrency Market Analysis [November 1]
Virtual Currency Practical Investment Article November 1
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【Cryptocurrency Market Analysis】
From last week, the price movements of cryptocurrencies
(for one week)
are summarized as follows
Display: current price (change from one week ago)
Bitcoin300万 yen (5％)
Ethereum234000円(17%）
Binance Coin470000円(16％）
Ripple67円（％）
Solana4800円(15%)
Cardano60円（13%）
Polkadot969円（10%）
Avalanche 2800円(10%)
Uniswap1000円（16%）
Bitcoin has rebounded from last week's 2.9 million yen to move around the 3 million yen level.
Bitcoin daily chart (USD)
The discussion remains the same as last week ↓
As before, Bitcoin continues to move within a range since six months ago (the area enclosed by the red horizontal lines). The lower end of the range (the lower red line) is this year's lowest price.
Looking at recent movements, it seems to be holding around the 20,000-dollar milestone.
For this year’s range, around 26,000 dollars is the upper limit, so if it breaks above this level, further upside may be visible, but for now it remains within the range.
Also, if it were to surpass 26,000 dollars, it would likely break above the orange 200-day moving average as well. The United States continues to raise interest rates, so movement within the range may persist throughout this year.
The weekly chart analysis continues as follows.
Weekly chart
・From the late-2017 bubble peak, it rebounded and rose with a short-term uptrend, but dropped to the June low level
・Falling below the 200-day moving average (orange line)
This is the current situation.
The situation remains unchanged from last week.
The 2017 bubble peak (red horizontal line) remains a support level, keeping price stable.
And since the trend line drawn from last year's peak to the bottom-right direction has been broken upward by price, it can be seen as turning upward in the short term.
Elon Musk acquires Twitter
Last week’s big news was the acquisition of Twitter by Tesla CEO Elon Musk.CEO,Elon Musk
He is firing executives one after anotherw
It is said that Donald Trump’s suspended account and Elon Musk’s are acquaintances, but the revival of Trump's account seems to be put to an impartial council in the future.
It is probably about revisiting account revival after an impartial discussion.
I was surprised that it was more reasonable than I thoughtw
Also on Twitter, a feature to display NFTs from tweets is being tested.NFT]
Displaying NFTs directly in tweets will allow more direct understanding of NFT details.
Image data contains blockchain-recorded data, which anyone can view and verify whether it is genuine NFT.NFT
Also Twitter offers a service using NFT in some profile pictures, pointing toward web3 development, and Twitter extending its services toward web3.
NFTis not just an image data; it has a blockchain history attached proving ownership.
NFTFor ordinary people who find NFT hard to understand, touching such services will help intuitively understand what NFT is.
Reference article
https://crypto-times.jp/nft-tweet/
VISA,NFTand Metaverse trademark registrations filed
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US payment giant Visa has on the 22nd filed two trademark registrations related to cryptocurrencies (virtual currencies) and NFT (non-fungible tokens). The filings indicate a focus on digital wallets and the metaverse.
・Providing software for users to view, store, manage, trade, and send/receive digital currencies and cryptocurrencies NFT collections
・NFT collections
・Online software to be used as a cryptocurrency wallet
・In a virtual environment where users can interact for entertainment purposes
ーーーー
EndVISAalso moving toward NFT-related services.
VISAis a payment company, but it may offer services such as NFT trading using credit or debit cardsNFTand wallets that can store NFTs.
In virtual spaces like the metaverse, NFTs can be traded as assets. Virtual land, weapons, items, fashion, etc.
SuchNFTtrading may be within the scope of consideration.
What differs from current games is that trades can occur between individuals rather than paying a game operator. Selling items you own, selling a character you raised, that kind of thing.
It’s interesting that you can trade characters you have spent time creating or land with high demand you own.
Also, major payment companies like Mastercard and Amex appear to be filing trademarks related to metaverse cryptocurrency payments.
From this NFT trend, what kind of investments should be considered?
Related metaverse stocks and platform stocks related to blockchain games.
In a broader sense, even within the Ethereum ecosystem, NFT-related items occupy a significant share, so there is potential in the overall virtual market.
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(This article has been distributed since 2016)
