Successful Economist: This Asset's Movements Deeply Affect Bitcoin (BTC)!

Gordon Grant, a successful economist and Block's derivatives expert, said that the price dynamics of the Japanese yen are increasingly affecting the leading cryptocurrency Bitcoin ($BTC ). The popular trader stated in his latest report that the Bitcoin price has risen thanks to the weakening of the yen.

Gordon Grant said that the risk appetite in the cryptocurrency sector has increased in the past few days. According to the analyst, investors increasingly perceive Bitcoin as a profitable inverse analogue of the US dollar in the face of the increasing public debt of the American federal budget.

Grant, a crypto expert, says that the decrease in the interest rate of the US Federal Reserve System (FRS) will soon increase volatility in the stock and crypto markets: “In the long term, Bitcoin and other digital assets will start to gain value, especially with low interest rates. The depreciation of the yen against the dollar will be the main catalyst for the rise of the leading cryptocurrency and the increase in investor sentiment.”

The successful analyst also claimed that it is unlikely for the leading cryptocurrency Bitcoin ($BTC ) to drop below the $57,000 support level in the short term.

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