Can Japan’s rate hikes affect the crypto market? As the latest news says that the Japan government wants to increase the interest rate more.
We must keep one thing in mind that Japan’s economy is currently the second largest in the world. Its financial decisions can be a game changer just like the USA’s decisions.
Japan is likely to increase the interest rate on December 19 and the big question is what will happen when the rate is increased? What will happen to crypto market?
Surely because Japan is one of the strongest countries in terms of economy its impact will definitely be on the market especially on crypto.
Last time when the rate hike happened there was about a 32% brutal drop. Even before this whenever rate hikes happened the market was deeply affected.
Now the question is, will it happen this time as well? In my view this time the impact will not be very strong because the market has already dumped due to insider news.
Bitcoin was in a very good bull pattern but because of this news the bull pattern broke and it has already gone down a lot.
This time the conditions are different. Bitcoin has already taken a correction and volatility has already expanded before the decision. I do not think there will be any major impact on the market.
My question to you all is that will history repeat itself or will Bitcoin finally break the pattern to the upside? I will be glad to see your answers in the comment section.
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