Why BTC Dump is Not Stopping đ
The Main Cause Behind the Market Decline
â Unemployment rate â
â Fear of WWIII and Genesis selling â
â Bank of Japan raising interest rates â
Recently, the Bank of Japan raised interest rates for the first time in 17 years, the last increase being in 2007, just before the US recession
Why is this bearish?
Due to zero interest rates, Japanese investors were borrowing yen to invest in other markets like US equities and crypto. With the interest rate hike, borrowed money is no longer free, prompting investors to dump their assets and convert them back to yen.
What's next?
Either the BOJ or the Fed needs to cut rates soon; otherwise, the market downturn will continue.
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