Cryptocurrency Market Analysis [December 12]
Practical Cryptocurrency Investment Article December 12
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We will introduce parts of it in the corner.
【Mag Mag magazine award: 5th place】
From a major magazine site in 2020
Mag Mag announced the magazine awards
and we were able to win a prize.
※Currently Mag Mag distribution has ended
and this article has been migrated here.
【Cryptocurrency Market Analysis】
The price fluctuations of cryptocurrencies since last week
(one week) are summarized as follows
Summary: current price (change from one week ago)
※From this edition, we will use dollar notation.
（Cryptocurrencies often have more information from overseas, so dollar notation is easier to express）
※1Dollar =149yen
Bitcoin41,500dollars（-1%）
Ethereum2,200dollars(-%）
Binance Coin255dollars(10％）
Ripple0.60dollars（-％）
Solana70dollars(14%)
Cardano0.58dollars（47%）
MATIC 0.88dollars(11%)
Avalanche 38dollars(74%)
Uniswap6.2dollars（-%）
Bitcoin is at the same level as last week's price.
Bitcoin Daily Chart
From the current price perspective, Bitcoin
○Target price is $45,000 (¥6,600,000)
○Break above the 200-day moving average
In the weekly movement, Bitcoin’s price hardly changed, but on the daily chart it surged from $41,000 to $45,000 in one week, then fell back to the current price.
The analysis of the weekly chart is as follows.
Weekly Chart
• Break above the 200-day moving average (orange line)
Bitcoin, which had risen for seven consecutive weeks, suddenly turned negative (bearish) here.
From a weekly view, the previous bubble in 2021–2022 is in the price range, and looking at the candlesticks from that period, even a single candle shows large price fluctuations.
Compared to that, the recent rise isn’t very large, but it is viewed as entering the bubble zone.
From Bitcoin to other currencies
Recently, Bitcoin’s price action has appeared to perform better than other currencies.
However, in the recent major drop, Bitcoin’s decline seems to have led to a surge in other currencies.
As for those currencies,AVAX，SOL、ADAなどのL1chain (a class of functionality similar to Ethereum) appear to be flowing into.
Originally, these currencies were also prone to large declines, so this may be a rebound correction to some extent.
L1Recently, Solana (SOL) has been heavily traded and is increasing in influence.
El Salvador finally in the green
El Salvador’s President Nayib Bukele posted on a blog on12th day,blog poststating that the country’s Bitcoin (BTC) investment has now reached100 million dollars, with net profit3.6 million dollars, total return2.84％, announced.
https://jp.cointelegraph.com/news/el-salvador-bitcoin-portfolio-swings-profit
El Salvador is a small country located south of Mexico and became the first nation to adopt Bitcoin as legal tender. It means Bitcoin has finally turned profitable for them.
In the early days of adopting Bitcoin, there were talks of IMF cutting off loans, but Bitcoin has continued to operate.
If Bitcoin’s price rises in the future, attention will likely be drawn to how El Salvador develops, including security, education, and healthcare, and how the country changes when it becomes more self-reliant—and I personally find it intriguing.
Huge Airdrop from JITO: over 2 million yen per person
Jito Foundation has published information about the large staking pool on Solana (SOL) called Jito, and the related free distribution (airdrops) of its own cryptocurrency “JTO” to users.
It was a very shocking news.
Jito distributed about 2 million yen worth of cryptocurrency for users who deposited over $100 in its platform (Jito is a system where you earn interest by depositing cryptocurrency).
Depositing is a simple process that takes less than 10 minutes, but many people did not expect such a large amount, which drew widespread attention to the airdrop.
However, amid many projects, using such a system to trade and profit from airdrops is not easy.
Nevertheless, for profitable projects, when issuing their own cryptocurrency, they often prefer to distribute to users who are genuinely interested and hold the asset rather than distributing to a random audience, and in some cases this can yield substantial profits.
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(This article has been distributed since 2016)
