Cryptocurrency market analysis [October 22]

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（This article has been distributed since 2016）

Bitcoin has continued its notable rise since last week, breaking the recent high of66,000 dollars and rising toward the vicinity of 70,000 dollars, but has been repelled there and is undergoing a corrective decline.

The 70,000-dollar level is still a major price milestone that people watch closely.

The yen has weakened again, and 70,000 dollars is currently around 10,57 million yen. You can feel the weakness of the yen.

Bitcoin has recently recorded the all-time high in hash rate (mining computation), drawing attention for potential future price rises.

And finally 11月初旬 (early November) is approaching, with the U.S. presidential election coming up.

On the prediction site Polimarket for cryptocurrencies, Trump has been leading day by day, but I feel that we cannot be optimistic yet.

ECB (European Central Bank) notes that a portion of early investors are monopolizing profits from Bitcoin's rising value, but it feels as if Bitcoin has now become a substantial asset class. A few years ago it was said to have “no intrinsic value” or “electronic garbage,” but with the involvement of major U.S. financial institutions, it is certainly drawing attention as a new asset class.

Also recently, BAYC is a famous NFT project, and the global AI company OpenAI is CEO (Worldcoin) announced a new chain. BAYC has APE chain, Worldcoin has announced World Chain. And these are built on Ethereum as the base chain.