Game Development Firm Enish Buys the Dip, Investing ¥100M in Bitcoin

In the latest Bitcoin news, the coin has garnered institutional interest from yet another Japanese company, Enish. Enish, a game development firm listed on the Tokyo Stock Exchange, has announced its decision to acquire Bitcoin as part of its financial strategy.

Japanese game development firm Enish has announced its decision to acquire Bitcoin (BTC) as part of its financial strategy. The firm, listed on the Tokyo Stock Exchange, plans to invest around ¥100 million ($670,000) in the cryptocurrency.

Its goal is to complete the Bitcoin purchase within the first week of April and it will be using its balance sheet for the acquisition.

Enish’s move underscores the growing interest in Bitcoin among institutional investors in Japan. The company is also known for its active role in promoting blockchain technology.

Enish: A Pioneer in Gaming and Blockchain

The company, which is famous for mobile games like De: Lithe – The King of Oblivio:n, has also been an active propagator of blockchain gaming. Its blockchain-based project De: Lithe – Last Memories showcases the company’s focus on Web3 development.

According to reports, Enish views Bitcoin as a strategic asset that offers liquidity and unrivalled potential for future price appreciation. Given that, Enish’s aspiration also aligns well with their aim to enter the Bitcoin treasury landscape.

The company announced that the Bitcoin purchase will be executed through a domestic crypto exchange. The holdings would be subject to quarterly reviews thereafter. Enish also plans to note any paper losses or gains from this investment in its financial reports.

Enish’s Bitcoin purchase aspirations also highlight the ongoing trend among Japanese firms adopting Bitcoin as a long-term asset. In recent Bitcoin news, other companies in Japan, including other gaming firms like Gumi and hotel company Metaplanet, have also made significant investments in Bitcoin recently. To add to that, financial institutions such as SBI Holdings and Monex Group have also acted on their institutional interest in the coin.

As Enish moves forward in its bid to secure financial assets and integrate Web3 into gaming, more institutions are bound to follow suit in the. With such massive amounts of interest pouring in for Bitcoin, its price action is going to be interesting in the coming times. Given that, let’s quickly take a look at Bitcoin’s performance on the charts in the last 24 hours and try to form a BTC price prediction for today.

BTC Price Analysis of April 3

Bitcoin commenced trading yesterday at a price of $85,206, working in a trading range from the previous day. Soon, a death cross took over the price trend, pushing it down to $83,941 by 06:20. At 06:30, a golden cross appeared, instigating an uptrend. BTC steadily moved up to $85,241, with the RSI indicating overbought levels.

BTC hovered around that price, finding stern resistance at $85,500. However, Bitcoin found support close by at $84,570. At 13:30, the MACD displayed another golden cross, as Bitcoin flew upward, forming a new resistance at $87,300 at 15:40.

Chart 1: analyzed by raodevansh18, published on TradingView, April 3.

Although Bitcoin failed to move further up, the RSI also showed overbought levels, and the signal line dipped below the long-term EMA. The coin experienced a short downturn, taking it to the $86,200 support. At 20:00, the EMAs interacted rapidly, as Bitcoin spiked to $88,500, marking its weeks-long high, before plunging deep to $82,893 by midnight.

Today, Bitcoin has climbed slightly, now alternating between the $83,850 resistance and $83,250 support.

BTC Price Prediction: Can Bitcoin Soar to $88K Again Today?

April 2’s Liberation Day brought a lot of drama to the BTC price charts. However, a big positive came out of the price action, with Bitcoin breaking the $88,000 resistance. But it has fallen by around 5% since that point. For today, BTC looks set for a positive break from this trading range. If it does happen, it could very well ascend to around $85,000 and deliver some positive Bitcoin news.

However, a downward breakout could have Bitcoin veering close to the $80K range again.