Thursday, October 6, 2022

Will the BTC price, which is left behind by US stock prices, be fixed until early tomorrow[virtual currency market]?

Will the BTC price, which is left behind by US stock prices, be fixed until early tomorrow[virtual currency market]?

author Yuuya HasegawaBitbank Market Analyst

After graduating from a graduate school in the UK, he worked as an analyst in the FinTech industry and the virtual currency market at a venture company consisting of people from financial institutions. Market analyst at Bitbank Co., Ltd. since 2019. He has a track record of providing comments to major domestic financial media and contributing to overseas media.

On the 16th, the Bitcoin (BTC) exchange rate against the yen continued to scramble around 3.2 million yen. However, as the dollar strengthened and the yen weakened in the foreign exchange market, BTC fell slightly below the milestone of $24,000 (≒3.22 million yen) against the dollar. Yesterday, the start of BTC trading services by Brazil’s largest broker, XP Inc, and the rise in the market price of Shiva Dog-type coins, etc., were confirmed to support the BTC market. A report that the sale of BTC worth 187 million yen was revealed to secure the flow and that Celsius received permission from the US court to sell mined BTC suppressed the price.

Figure 1: BTC vs. Yen for the previous day (left, 1-minute) and BTC vs. Yen for the last 3 months (right, daily) Source: Created from bitbank.cc

The views and interpretations in this article are those of the author and do not necessarily reflect the views of Cointelegraph.


Risk Disclosure: The articles and articles on Arover.net do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies.

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