Japan leads Bitcoin price to new high, approaching all-time high of $1,277

Bitcoin price is approaching the all-time high of $1,277 before the SEC rejected the Winklevos twins’ bitcoin exchange listing. On Saturday, the global bitcoin exchange opened at $1,257, maintaining the momentum of last Friday. On April 21, the bitcoin price once broke through the $1,270 mark, surpassing its all-time high. At the peak yesterday (April 23), the bitcoin price was as high as $1,259, but it stumbled all the way and gradually fell back to $1,220. The market closed at $1,243, a slight decrease of 1.23% in the past 24 hours. Despite this, the price of bitcoin has risen by an average of more than 4% in the past week, from about $1,180 to about $1,243. Considering the optimistic trading activity in the Japanese exchange market and the growing interest in bitcoin in the Indian market, the price of bitcoin is expected to continue this momentum next week. The Japanese Factor The Japanese Bitcoin exchange market, with a daily trading volume of $121.5 million, accounts for nearly 50% of the global Bitcoin exchange market share, and Bitcoin prices and trading volumes are increasing day by day, showing a high level of trading activity. According to the price chart below provided by digital currency market data company Brave New Coin, the daily trading volume of the Japanese Bitcoin exchange market has continued to increase over the past week, leaving the US Bitcoin exchange market far behind in terms of trading volume and market dominance. There are two main reasons why Japan's interest in Bitcoin has grown dramatically (as shown in the price chart above).

First, it was pointed out by financial analyst and Welt senior editor Holger Zschaepitz that Japan's 10-year bond yield fell back to zero for the first time since 2007. Yield In traditional finance, yield represents the income return on an investment and is usually calculated as an annual percentage. Zschaepitz explained that Japan's zero yield reflects the serious instability of its economy, and the Bank of Japan is trying to print a large amount of yen currency to increase inflation and maintain economic growth. Just like China, if Japan's inflation rate rises, investors will usually turn their attention to other safe-haven assets and wealth management products (WMPs) such as gold and Bitcoin. In terms of liquidity and medium-term profitability, Bitcoin is able to gain a larger market, so in times of financial instability and economic uncertainty, everyone's demand for Bitcoin will increase.

(Oops! #Japan's 10-year bond yield is back down to 0%, the central bank is printing money like crazy, every minute is despairing.)

Mainstream Media In addition, Japanese mainstream media has been widely popularizing Bitcoin, especially after Bic Camera accepted Bitcoin payments and the Japanese government legalized Bitcoin.