Revisiting $85,000: Bitcoin Price Drop Linked To Japanese Government Bonds
After a brief period of consolidation and a bullish uptick to around $93,000 at the end of last week, the Bitcoin price has once again dipped toward the $85,000 mark, recording a significant 7% drop on Monday, according to data from CoinGecko. Market expert Shanaka Anslem has pointed to what he refers to as “the weapon” behind this latest crash: Japanese government bonds. Expert Warns Of Unraveling Yen Carry Trade In a post on social media platform X (formerly Twitter), the expert highlighted that the yield on Japan’s 10-year bonds reached 1.877 percent on December 1,....
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With high market uncertainty, low inflation, and negative interest rates in many countries, it’s becoming harder for investors to ignore Bitcoin, which is one of the very few investments these days to offer an alternative to further losses. Bond Yields Going Negative Globally. Amid recent market turmoil following Brexit, slashing of forecasts and credit....
Being part of the stock market is not as fun right now as it was a few years ago. Every day, a new financial disaster seems to be waiting just around the corner. After the trouble started brewing in China a few months ago, the Japanese stock market is the next one to plunge. The reason for this is simple: government bonds are going negative for the first time. At the same time, Bitcoin is looking more and more appealing as a way to diversify portfolios. Japanese Stock Market Takes A Big Hit. In this day and age, being involved in the financial sector with one’s money doesn’t make for a....
Japanese startup JPYC has launched the first stablecoin pegged to the yen, backed by domestic savings and Japanese government bonds. JPYC Is The First Yen-Backed Stablecoin In The World JPYC announced on Monday the launch of its yen-backed stablecoin, also called “JPYC.” A stablecoin is a cryptocurrency pegged to a fiat currency, and at present, […]
The closure of Mt. Gox and the investigation of its founder have turned into a national scandal involving the Japanese government after it was revealed that the defunct exchange was bankrupt six months prior to its collapse. The recent upturn could be due to the Japanese media mistakenly reporting that the “Ex-Founder of Bitcoin was arrested” or the magnitude of the investigations. Meanwhile, Japan’s Finance Minister Taro Aso announced that the Japanese government will most likely set up regulations on digital currencies due to recent scandal. The Japanese media is already misreporting....
In a recently released white paper, a Japanese non-fungible token (NFT) taskforce has asked the government to consider appointing a government minister whose job it would be to oversee all matters relating to Web3.
Building the Support Structure for Japan’s NFT Sector
A Japanese NFT policy task force has reportedly told the country’s leaders to consider appointing Web3 minister, a report has said. If hired, this individual would be in charge of all matters relating to Web3.
Also, as per a report published by Coinpost, the government-appointed task force....