Cryptocurrency market analysis [May 16]
Practical Cryptocurrency Investment Article May 16
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【Virtual Currency Market Analysis】
The price movement of cryptocurrencies since last week
over the past week is summarized as follows
Display: current price (change from one week ago)
※From this time we will use a dollar notation. (Cryptocurrencies often come from overseas, so dollar notation is easier to express)
※1Dollar = 134 yen
Bitcoin27,218dollars (-1.4％）
Ethereum1,821dollars(-1%）
Binance Coin312dollars(-0.7％）
Ripple0.43dollars（-％）
Solana21dollars(1%)
Cardano0.36dollars（-%）
Polkadot5.3dollars（-%）
Avalanche 15dollars(-%)
Uniswap5.1dollars（2%）
Bitcoin has been in a down-adjustment since last week and is at around 27,000 dollars.
Bitcoin Daily Chart
From the current analysis
○Target price is 32,000 dollars (level of May last year)
○Above the 200-day moving average
and the uptrend continues
It has risen slightly since last week.
The price is rebounding at the lower bound of the red-framed range shown on the chart.
The weekly chart analysis is as follows.
Weekly chart
On the chart, it seems the price is rebounding around the orange 200-day moving average.
Also, Bitcoin’s fear index is 52, indicating a position between bullish and bearish.
With prices moving up step by step, you get the sense of a rising price with ranges going up and down.
Previously, price increases from declines were like a rapid rebound such as the March 2020 COVID shock, but this rebound does not seem to be like that.
Elon Musk posts NFT and gains popularity.
American entrepreneur Elon Musk posted a meme using the Milady Non-Fungible Token (NFT) collection on May10th, MiladyNFT collection(NFT)image, and immediately,Milady NFTfloor price surged from3.8Etherto a peak of7.3ETH. At the time of writing, it has fallen to1404.89ETH.
The digital art collective Remilia (Remilia) created Milady in 2021as a collection of 10,000 anime profile imagesNFTdesigned with a street-style tribe concept.
https://twitter.com/elonmusk/status/1656326406618619910
https://jp.cointelegraph.com/news/milady-nft-floor-price-surges-after-elon-musk-tweet
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At one point, the floor price rose to nearly180million yen. The floor price refers to the lowest price at which NFTs are being sold. In other words, the lowest price for a Milady NFT being sold rose to as high as180million yen.
It is not entirely clear why this art, designed around Japanese subculture fashion, attracted Elon Musk, but it seems Musk, including Dogecoin, has a fondness for Japan.
I recall that Twitter's verification mark costs around 1,000,000 yen a month, yet when the author of the popular anime Spy Family’s Twitter account was verified automatically, rumors spread that Elon Musk is a fan of Spy Family.
G7 discussion on digital currency (CBDC) regulations
11The G7 finance ministers and central bank governors meeting held in Niigata concluded on13. They issued a joint statement emphasizing the importance of CBDC's role in a global payment system and the intent to promote international regulatory alignment and oversight for crypto assets and markets, while encouraging responsible innovation and addressing the financial stability and integrity risks these activities pose.
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CBDEは、国家が発行するデジタル通貨であり、現在世界的に検討段階に入っている言えます。以前は中国が先行してCBDCの導入を進めており、すでに深セン（香港の上）で一部導入実験を行っていると話を聞いていました。
最近はあまりニュースがないようです。
CBDCの規制では、仮想通貨（暗号資産）にも触れてあり、監視していくという感じになっています。
つまりCBDCと仮想通貨は切っても切れない関係。
分散型金融（DeFi）などが経済にどのような影響を及ぼすかも含めて政府は監視しているのでしょう。昨年は良くDeFiから資金が盗まれていて、色々と問題が勃発した年でもありました。
North Korea's hacking issues
Japan has, from 2017 to 2022, observed that cryptocurrency (digital assets) worth2017to2022dollars (around 980 billion yen) were illegally obtained by hacking in North Korea.Ellipticclassified the wallets used by Lazarus, a hacking group suspected of North Korean government support, by location. North Korea is using illicit networks to access the international financial system and generate revenue via cryptocurrency, supporting attempts to procure illegal weapons and ballistic missile programs. This threatens international security.
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North Korea's hacking issues have been discussed for some time. Being a socialist state, North Korea's hacker groups are also thought to be state-sponsored.
Earlier the U.S. government halted the USDC (a dollar-pegged cryptocurrency) from operating by the issuer when funds were illicitly transferred.
Cryptocurrencies are decentralized networks, so centralized actions like this are not ideal, but I believe such measures are unavoidable when a state uses theft to bolster its military capabilities.
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（This article has been distributed since 2016）
