In the next few hours Japan will announce its interest rate decision which can have a strong impact on crypto.
Many people believe that if the interest rate is increased it will have a very negative effect on the crypto market. Some investors even think that the market could drop by around 20 to 30%.
This is not doubt true that rate hikes are always negative for market. But one thing to keep in mind that #Bitcoin is dropping from $100K and now the price is $85K.
We have already seen a sharp drop of more then 20% in just a month. They question is, what is the reason for this drop?
We had no bad news, FED news was positive but market didnot react. We had good news but market again not reacted but instead it drops.
Thinking now, what was the reason for this crash? I think the recent crash was the insider news of the Japan interest rate news.
The market already reacted before this news. Now what will happen after the announcement? According to me, the market will react very fast.
A sharp dip of 2-3% will be seen then a good recovery is expected soon. I think this news will not have such impact on the market.
Not a financial advice.
What do you people think about this news? Will Japan rate hike will crash the market? Will be glad to see your answers in the comment section.
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