Cryptocurrency Market Analysis [February 6]

Cryptocurrency Practical Investment Article February 6

Dear subscribers

If there are topics you want us to cover or questions you have, please contact us.

Q&AWe will introduce some of them in this corner.

【Won 5th place in Magmag Magazine Award】

In 2020, the major newsletter site

Magmag announced the magazine awards

and we were able to win an award.

※The Magmag newsletter distribution has ended

and this article has been migrated here.

【Cryptocurrency Market Analysis】

From last week, the price fluctuations of cryptocurrencies

（for one week） have been summarized as follows

Summary: Current price (change from one week ago)

※From this time, values are shown in dollars.

（Because many cryptocurrency-related information comes from overseas, dollar notation is easier to express）

※1Dollar =149 yen

Bitcoin

42,800dollars-1.1％）

Ethereum2,300dollars(-%)）

Solana94dollars(-10%)

Bitcoin remains at the same level as last week’s price.

Bitcoin daily chart

Considering the current price of Bitcoin

○Target price is $45,000 (approximately 6.6 million yen)

○Break above the 200-day moving average

Recently, Bitcoin’s price has lacked direction, fluctuating up and down in small increments.

Before March, there is a possibility that US banks could fail due to an economic recession, causing Bitcoin to temporarily drop in price.

And from late March to April is Bitcoin’s halving period.

Historically, after halving, Bitcoin’s price tends to rise according to the usual pattern.

Additionally, the BitcoinETF that was approved last month. With selling pressure diminishing, the price has recovered to its current level.

It seems that funds have concentrated into BlackRock’s BitcoinETFas well.

Recently, Bitcoin’s price movement has become more volatile, making it a slightly harder timing to buy since prices don’t stay put.

※In the paid subscription portion, we perform deeper stock analysis. We aim to go beyond Bitcoin and Ethereum and to adopt more advanced investment strategies. If you want to understand future crypto market trends and ride the waves, please consider subscribing. Research is very important and ongoing.

(This article has been distributed since 2016)