Practical Cryptocurrency Investment Article November 15

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【Cryptocurrency Market Analysis】

From last week, the price movements of cryptocurrencies

(one week) are summarized as follows

Display: current price (change from one week ago)

Bitcoin234万円(-22％)

Ethereum175000円(-24%）

Binance Coin39000円(-22％）

Ripple53円（-22％）

Solana4100円(-14%)

Cardano47円（-20%）

Polkadot825円（-21%）

Avalanche 1900円(-29%)

Uniswap850円（-17%）

Bitcoin fell below 29 hundred thousand yen last week,FTXcollapse news led to further declines and reached this year’s low.

Bitcoin daily chart (in USD)

Froma range-bound market since June, Bitcoin had been trading within the red boxed range, but it broke below the year's lowest price at the lower end of the red line.

Although the price fell below the red line representing the year’s low, it did not completely break away and has since rebounded slightly, moving around that line.

However,FTXcollapse and the related companies’ impact is concerning, so the price outlook is still bearish.

And next year, as a recession may begin, trading volumes could be low and price volatility reduced.

The weekly chart analysis is as follows.

Weekly Chart

・It first dropped below the peak price of the 2017-end bubble this year.

・It remains below the 200-day moving average (orange line).

Historically, the 2017-end bubble’s peak price had repeatedly acted as a rebound zone, but now it is undercut due to the influence ofFTX, and remains below it.

The world's largest exchange FTX collapses

Last week, Binance’CEOsold a large amount ofFTXcryptocurrencyFTT, creating unease in the industry, but the situation changed significantly and Binance then discussed acquiringFTX, which later proved impossible.

The reason the acquisition by Binance was suddenly proposed was to rescueFTX, which was in danger of collapse. However,FTX's collapse damages exceed one trillion yen, and Binance determined it could not cover that, so the acquisition was abandoned.

And as a result, the cryptocurrency market has plunged significantly.

Currently,FTXrelated companies are the focus of attention for what will happen next.FTXitself has filed for bankruptcy and is moving toward rebuilding in the future.

Who would have predicted thatFTX, the third largest in the world, could end up like this...

FTXis currently also present in Japan, but in Japan theFTXis resuming withdrawals for users.

Reference articles

（DomesticFTXJP）

https://www.coindeskjapan.com/165308/

（OverseasFTX)

https://www.coindeskjapan.com/165428/

In the past week, almost all the news has been aboutFTXrelated matters.

Regarding storing cryptocurrency assets, for those using overseas exchanges, it may be best to keep large holdings in a personal wallet rather than in an exchange.

Of course, you should securely store your recovery password for your personal wallet as well, and maintain a constant awareness of security.

This incident is likely to accelerate regulatory developments for cryptocurrency, and in the short term there may not be much upside in prices.

Some Japanese users had assets on overseasFTXas well, and over the past week they have watched the news daily with concern.

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(This article has been distributed since 2016)

Cryptocurrency Market Analysis [November 15]