Cryptocurrency Market Analysis [January 21]

Bitcoin has moved from last week's $96,000 to now surpassing $100,000, placing it at the upper end of the range. (Japan price: 16.5 million yen)

$110,000 is a key milestone, and whether it can be surpassed is one of the notable points to watch.

Last week, Bitcoin reached 17,000,000 yen for the first time in history.

Trump's inauguration was on January 20, but there was an anticipatory rise before that which brought the price to that level.

Unfortunately, after the inauguration it fell, but it is not a drastic drop.

There are expert forecasts that it could peak toward the end of March, but personally I am watching to see if it will follow last year.

U.S. time, January 20, Trump was inaugurated, but there was no particular mention of crypto assets in the executive order.

The executive order covers issues such as preventing illegal immigration, controlling inflation, tariffs and domestic tax cuts.

Nevertheless, at the time of his inauguration, Trump’s company World Liberty Financial purchased Bitcoin, Ethereum, and several other currencies.

I am not personally pessimistic just because it was not in the executive order.

When Bitcoin reached $100,000 last year, Trump was among the first to celebrate, and moreover many government officials, including ministers, treat cryptocurrency as a mythic asset.

They seem to want to discuss and proceed cautiously and positively, including strategic reserves of Bitcoin, within the country.

That said, I checked the price in the morning because I was curious how it would swing overnight, and it had fallen a bit, which is a typical, ordinary update.

Trump’s family-run crypto business, World Liberty Financial (WLF), announced on the 20th that it raised $300 million through a token sale. The official crypto asset “$Trump” that he launched last weekend also surged, pushing its market cap above $10 billion.

WLF is promoted by Trump, his relatives, and Steve Whitcuff, whom he appointed as Middle East envoy, and it began two months before the election.

From the night of the 17th, the meme coin “$Trump,” launched by Trump on the 18th morning, rose from under $10 to as high as $74.59 during the trades on the 20th. — Reuters

When Trump first officially spoke about Trump Coin, there was speculation that his social media account had been hacked. However, it was indeed his actual statements.

The article also does not mention that the cryptocurrency “TRUMP” is issued on Solana (SOL); the fact that it is issued on Solana has altered many people’s views on Solana.

Not Ethereum, but the adoption of Solana has changed many people’s opinions about SOL, perhaps.

There were some issues with transactions becoming too numerous to handle.

I did not buy Trump’s volatile currency. It rose 35 times from $2, but later fell to around $40, making the price movement quite risky.

In my case, since I already hold SOL, the fact that Trump adopted SOL left a strong impression on me. It was a personal joy that SOL appreciated because Trump’s currency adopted it, not because of Trump’s currency itself.

Furthermore, it seems there is also a cryptocurrency issued by Trump’s wife, but how far this trend will go is anyone’s guess... haha

In reality, when Trump’s currency was issued, other currencies were sold and Trump’s currency was bought. This market-wide shift was complicated and not a good sign.SOL and some other currencies rose along with Trump’s currency.

I am curious about what they aim to do by issuing such currencies.

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(This article has been distributed since 2016)