Husires pointed out Japanese fiat depreciating against the USD, but the chart is for a specific point in time, largely for 2022. The op, on the other hand, is talking about a record high price over the last two weeks. That being said, I've found an article about the event (which was 2 days ago, by the way), and it does mention the record high price coinciding with a decrease of value against major fiat currencies.
I also wonder how big of a difference we're talking about, as the op's talking about a 25% increase over the last 2 weeks, which isn't very far from around 23.5% increase that happened if we measure Bitcoin vs the USD.
Topic: Bitcoin price hits record high in Japan as fresh inflows fuel rally (Read 79 times)
February 21, 2024, 08:42:24 AM
February 21, 2024, 08:32:38 AM
Bitcoin has hit a record high against the Japanese Yen following a 25 per cent price increase over the last two weeks for the cryptocurrency.
Interesting information to discuss about, but you lack the reference link to provide more insight in backing this up, you can for the benefit of next time always put a link to the source of information like this.When we look into the way the current worlds economy system is moving, we will realized the more there's need for us to maintain adequacies in the economy and this can only be achieved when we are having something new other than the ones we have been used to, bitcoin is one of the game changer to make everyone have access to choose and decide how he want to run his financial economy, that is also part of the reason you will keep having the experience of increase with bitcoin in every sectors in Japan because the people allow for it to take hold.
February 21, 2024, 08:29:23 AM
Yeah, if we started looking at BTC vs fiat outside USD, EUR, GBP, we would have a post every month. Just look at Argentina, Venezuela, even Jordan and Lebanon, posting ATHs when Bitcoin was plumbing 2022 lows!
USD has hit historic highs in my country already, so we will be posting a BTC ATH very soon, without needing BTC to hit 2021 dollar peak.
The life we live.
USD has hit historic highs in my country already, so we will be posting a BTC ATH very soon, without needing BTC to hit 2021 dollar peak.
The life we live.
February 21, 2024, 07:15:25 AM
What is true is that the value of the JPY declined sharply vs USD, while the value of Bitcoin increased vs USD, which led to this ATH.
The actions of the Japanese central bank were different from most central banks around the world, and it did not follow the same approach as banks in changing interest rates in line with the US Federal Reserve. This is why we see a bad performance of the currency.
The actions of the Japanese central bank were different from most central banks around the world, and it did not follow the same approach as banks in changing interest rates in line with the US Federal Reserve. This is why we see a bad performance of the currency.
February 21, 2024, 06:45:34 AM
Bitcoin has hit a record high against the Japanese Yen following a 25 per cent price increase over the last two weeks for the cryptocurrency.
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