Cryptocurrency Market Analysis [January 31]
Cryptocurrency Practical Investment Article January 31
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【Cryptocurrency Market Analysis】
The price movements of cryptocurrencies since last week
have been summarized as follows
Display: current price (change from one week ago)
Bitcoin297ten thousand yen (-％）
Ethereum205000yen(-3%）
Binance Coin41000yen(-％）
Ripple54yen（-％）
Solana3100yen(-%)
Cardano48yen（-%）
Polkadot810yen（-2%）
Avalanche 2500yen(10%)
Uniswap862yen（-%）
Bitcoin has moved roughly sideways from last week's price, and many other cryptocurrencies are also at around last week's prices.
Bitcoin daily chart (USD)
20226month, Bitcoin moved within a range, and in November with the collapse news of the exchange FTX, it fell sharply.11monthFTXcollapse triggered a big drop.
Then in early January, seven consecutive bullish days occurred, breaking the short-term range to the upside and recovering to 20,000 dollars (driven by expectations that US CPI cooled).
In the week before last, price rose to 3,000,000 yen, and currently it is moving in the same price band as then.
On the daily chart, the orange line of the 200-day moving average has broken upward significantly.
I think the current price is mindful of the price in mid-September last year.
First, watch how it behaves around 25,000 dollars (red horizontal line).
The weekly chart analysis is as follows.
Weekly Chart
・At the end of 2017, it briefly dipped below the all-time high, for the first time this year.
・Has remained below the 200-day moving average (orange line).
The 200-day moving average on the chart is very close to the price. If it breaks above this moving average, more investors may see it as a trend reversal.
The 200-day moving average is a metric watched by relatively few investors.
Also, the upper bound of the range after last year's decline is around 26,000 dollars. If it breaks above this, the projected path is written; of course the 200-day moving average would also likely break upward at that time.
Looking at other currencies, the ones with the largest weekly gains are
・Polygon
・AVALANCHE（Avalanche）
・APTOS
These share the characteristic of being platform-type cryptocurrencies.
And there are rumors that Avalanche has some movements with Amazon. Perhaps that is part of the influence.
Did Twitter plan to introduce cryptocurrency payment functionality?
BigSOCIALplatform Twitter has learned that it is developing software toward introducing a payment feature. Several sources summarized this as “Financial Times” reporting on the31st
Elon Musk, who acquired Twitter, said that first he wants payment functionality to support fiat currencies. After that, he wants to be able to add cryptocurrency features, according to two sources.2sources revealed
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As written here, it seems Twitter would initially implement fiat-to-crypto payment functionality.
On Twitter, it may be a move to enhance convenience when selling digitalNFTor tipping with cryptocurrency.
Twitter is currently a platform where many cryptocurrency investors gather, so issuing NFT and enabling cryptocurrency payments would be quite user-friendly.
Perhaps that makes Twitter the most suitable platform for this purpose.
Also, Twitter has been talked about as developing its own cryptocurrency (Twitter Coin?), and it may be circulating as a major currency inside Twitter.
Prime Minister Kishida aims to revitalize rural areas using digital technology such as Metaverse
“Digital power can dramatically raise productivity and convenience in communities, greatly improve industrial and living standards, and enhance regional charm. I recognize this as an opportunity. By incorporating cutting-edge digital technology, I hope to accelerate regional revitalization.”
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This is probably aimed at promoting local products more concretely through Metaverse and stimulating consumption.
Regarding Metaverse, it has high affinity with blockchain technology, and efforts are underway to circulate currencies andNFTas assets inside Metaverse.
BTC/USD and other assets rebound before FOMC, Nigeria’s BTC premium soars背景は
By the end of the day on the 29th, in Nigeria, Africa, Bitcoin surged dramatically. It briefly reached a premium of over +60% and1BTC=37,235 dollars. The recent US market high was1BTC=23,966 dollars.
The background includes the Nigerian central bank’s cash withdrawal restrictions via ATMs and over-the-counter trading after the month, as well as nearing replacement deadlines for old and new notes, which caused public confusion.
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When the government’s currency credibility collapses like this, people choose to hold assets that do not lose value, such as cryptocurrency.
The price of cryptocurrencies itself has declined since last year, but this is not a temporary pullback; factors include that cryptocurrencies are not controlled by governments or specific organizations, they are digital and portable, and are being bought heavily in many countries with economic uncertainty, suggesting long- to mid-term holdings.
This trend is likely to continue. It seems likely that countries like El Salvador in Central America will increasingly recognize Bitcoin as legal tender.
If the cash you hold loses significant value, what would you do? This perspective can be learned from such news.
Why Aptos prices are rising
Newly emergedL1calledAPTOSshowed a surge of over 5x in January, influencing many investors. It inherits Facebook’s old technology and has its own programming language..
Below we introduce reasons for Aptos’ performance.
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◯2023年1月9日から25日の間に、ビットコインは$17,000から$23,300まで37%上昇しました。Aptos（APT）に関しては、同期間に180％上昇して14ドルになり、その後1月25日には19ドルに達し、2023年のリリース以来440％の上昇
◯弱小プロジェクトが一掃される中、堅実に建設を続けたプロジェクトは、次の市場サイクルで大成功を収めることができるのです。２０２２年10月17日にAptosのメインネットがローンチしたとき、BTCは19,300ドルで取引されていました。その頃から、Aptosは非常に高い関心を集めていた。
◯Aptosの最近のTVL上昇の多くを占めるのが「PancakeSwapです。同プロジェクトはがTVL億ドルあるDeFiつ
These protocols create the organic demand forAPTthrough liquidity staking,DEXpools, loans, etc., attracting new users to the ecosystem
◯ Many traders expect that whenAPTprice nears oldATH, a similar crash might occur. However,Aptosbuying quantity remained very high
◯ Some crypto media citeAPTpriceas a reason for the rise in Aptos NFT interests
◯ Looking ahead,Aptosis one of the most interestingL1projects launched during this bear market and has great potential
APTOScurrently ranks 28th by market cap, rising significantly from before.
For 2023, Aptos is considered a rising L1 in the ecosystem; it will be interesting to see how its ecosystem spreads.
※At present, there are no domestic exchanges where you can buy APTOS.
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(This article has been distributed since 2016)
