Will BTC finally start moving from the high stoppage[virtual currency market]?

Will BTC finally start moving from the high stoppage[virtual currency market]?

author Yuya Hasegawa Bitbank 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 January 31, Bitcoin (BTC) vs. the yen rebounded slightly. The previous day’s market price had fallen from around 3.1 million yen to 2.955 million yen, but on this day in Tokyo time, altcoins were bought, led by Litecoin (LTC) and Dogecoin (DOGE), supporting the BTC market. stopped falling. In US time, the growth of the US employment cost index in the fourth quarter of last year slowed down and fell short of market expectations, and US stocks rebounded. BTC also rose in line with this, recovering 3 million yen. Earlier this morning, Ether (ETH) fell back to $1,600, and BTC fell below 3 million yen at one point, but it quickly regained the range of decline with the purchase of dips.

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

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