The price of bitcoin falls due to negative winds from Japan
📣 Historically, interest rate hikes in Japan have been detrimental to the price of bitcoin.
Everything indicates that the Bank of Japan could increase its interest rate for the first time in 11 months.
✅ Investor and analyst Ted Pillows notes: “In the previous three occasions, each rate hike in Japan caused BTC to fall between 20% and 30%. The BoJ is expected to raise rates again on December 19. Will it be different this time?”
💰 This negative reaction of BTC is linked to the carry trade. If the higher returns offered by the Japanese central bank attract local investors again, the return of those capital flows could create pressure on financial assets in other parts of the world, also affecting cryptocurrency markets.
Everything indicates that the Bank of Japan could increase its interest rate for the first time in 11 months.
✅ Investor and analyst Ted Pillows notes: “In the previous three occasions, each rate hike in Japan caused BTC to fall between 20% and 30%. The BoJ is expected to raise rates again on December 19. Will it be different this time?”
💰 This negative reaction of BTC is linked to the carry trade. If the higher returns offered by the Japanese central bank attract local investors again, the return of those capital flows could create pressure on financial assets in other parts of the world, also affecting cryptocurrency markets.
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BTC
86,466
-0.46%