The Fed's decision to cut interest rates and the Bank of Japan's decision to keep interest rates steady have led to an increase in Bitcoin and altcoins. The BOJ's decision has reduced concerns about the end of carry trade operations in Yen, while the strengthening of the US dollar against the Japanese yen has created positive conditions for Bitcoin. The lack of a rate hike by the BOJ and the weakening of the yen have also supported Bitcoin's rise. Additionally, Bitcoin tends to appreciate when the dollar weakens and acts as a high-beta asset.
- Content Editor ( en.bitcoinsistemi.com )
- 2024-09-20
According to Analyst, FED Is Not the Only Reason Behind Bitcoin's Recent Rise! Here Are Other Factors Supporting the Rise!