Bitcoin surpasses 80,000 yen! How far will the vigorous buying continue?
Hello everyone, 80,000 yen! If I have 80,000 yen, I’ll dump myself into stocks after all@xi10jun1.
Bitcoin has finally surpassed 80,000 yen, hasn’t it.
More people who follow on Twitter are holding Bitcoin as well, so perhaps the number of participants is increasing?
This Week's Performance (November 12, 2016 to November 18, 2016)
First, as usual, the performance summary.
On the 17th, I held a short position around 83,000 yen, but it didn’t fall as I expected, and I ended with a small profit at the end…
I made unnecessary losses by sticking too much to a short-selling view, so this is something to reflect on.
Bitcoin Market on November 13, 2016 (Chart Time: 1D)
On the 13th, was it profit-taking selling, as the price continued to drop from the morning?
Because the previous day’s doji had formed a cross, this was a market turning point.
It is dropping nicely, but in the long term the upward trend continues, so I want to be mindful of buying on dips as well.
*14th’s image was accidentally deleted. I apologize.
Bitcoin Market on November 15, 2016 (Chart Time: 4H)
I thought it was a downtrend, but it gradually rose, so perhaps the uptrend may continue.
The line just before 78,270 yen is the recent high at 77,290 yen. If we break above this, I consider an uptrend to have begun.
While a sudden drop is possible, let's keep stop losses tight.
Bitcoin Market on November 16, 2016 (Chart Time: 1H)
It slightly surpassed 77,290 yen, so the uptrend continued.
For the moment it’s a bit sagging, I wish I had bought on dips...
Really, the market is like "buy the dips" indeed.
Bitcoin Market on November 17, 2016 (Chart Time: 1H)
And on the fateful 17th, Bitcoin finally broke the 80,000-yen threshold!
Too strong…
After that, it stretched toward around 83,000 yen, with continued robust buying seems to be ongoing.
Free summary: Bitcoin remains a buying-from-now-on perspective! But…
Services that accept Bitcoin for payments are expected to grow further in the future. Such price increases are evidence that these services are born and holders are increasing, right?
Additionally, with various cryptocurrencies such as ETH (Ethereum) and XEM (NEM) being created, Bitcoin is like the veteran among digital currencies. Beginners may continue to buy Bitcoin, thinking, "Rather than some unknown currency, Bitcoin is still better…"
If that happens, it starts to feel okay to maintain a buying perspective…
Endnote Corner: Try shopping with Bitcoin!
Actually, on the overseas e-commerce site “FANCY,” you can purchase goods with Bitcoin! It does incur some shipping, but there are stylish items you won’t see in Japan!
For how to use FANCY, I’ve summarized it on this blog, so please refer to this.
- →FANCY (Fancy) account creation/registration/setup and how to purchase items | Investor Jun of the Late-blooming Generation
- →How to purchase (settle payment) items on FANCY with Bitcoin | Investor Jun of the Late-blooming Generation
※ Free content ends here. From here on is detailed analysis and future outlook, so this will be paid.
