Virtual currency market analysis【February 18】

Bitcoin is currently around the $94,000 level, but it has fallen from near $96,000 last night.

Regarding the cryptocurrency called LIBRA that was promoted and issued by President Miléi of Argentina, its credibility has been questioned, and since LIBRA was issued on Solana, the Solana currency SOL has been sold and the market has been dragged along by it.

Last month, President Trump's official cryptocurrency was also issued on Solana. Previously, currencies were often issued mainly on Ethereum, but recently we have been hearing more about Solana as well.※Solana's currencySOL is available on domestic exchanges starting with Bitbank.

Bitcoin's price is within a range from the latter part of November of last year, and it is positioned near the lower end of that range.

Moreover, this month the price has been on a downward trend, and price volatility seems to be calming.

February is said to be an anomalous rise for Bitcoin, but looking at the current market conditions that doesn't seem to be the case.

However, news about initiatives using Bitcoin or blockchain is increasing, and I think that is a positive development for the market.

The price is not very impressive, but in a broader perspective a trend is emerging, and at this stage there are investors who are considering putting in capital.

◯FRB Chairman Powell

The FRB Chairman Powell has stated that he likes stablecoins

Powell: "We strongly support building a regulatory framework for stablecoins. Stablecoins may hold great potential for consumers and businesses."

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In this way, the FRB has also shown a willingness to recognize transactions using blockchain, indicating a shift in stance from before.

Staking refers to a cryptocurrency linked to fiat currencies like the dollar, and with major card companies like MasterCard actively utilizing it, its use is attracting attention as a positive development for the cryptocurrency market.

Recently, Elon Musk proposed managing government information on the blockchain, and information about services using blockchain has begun to appear.

◯ Ethereum staking ETF is being applied for.

According to Cointelegraph, the CBOE BZX exchange, in place of asset management company 21Shares, has applied to include staking in its spot Ethereum-listed ETF (ETF). The price of Ethereum rose by 3.5%. According to CoinMarketCap, Ethereum (ETH) initially surged to 2,776 dollars, then fell to 2,729 dollars.21Shares aims to become the first company to offer staking in Ethereum within a spot ETF product after awaiting approval. The company described in documents submitted to the U.S. Securities and Exchange Commission on the 12 date that, through a trusted staking provider, a portion of the trust's Ethereum would be regularly staked, highlighting that this would benefit investors and enhance the trust's ability to track returns related to Ethereum ownership. - Binance 2

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Staking is a system where you earn interest by depositing ETH. Currently, Ethereum staking is said to be between 2.5% and 7%.

Holding Ethereum as a security while earning interest is a mechanism that Bitcoin does not have, and this could become a major strength for Ethereum, potentially changing perspectives significantly if approved.

◯ Bitcoin Fear Index

Bitcoin's fear and greed index is50 to neutral

Current price: 97,780 dollars

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The Bitcoin fear index is currently at 50, mid-range. This index used to be around 90, but recently has been muted, leading to potential hesitation to buy. However, it is often said that buying around the 15-20 range yields the highest performance, though it can be daunting to buy when it falls to that level.

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(This article has been published since 2016)