[NEWS] Bitcoin hits all-time high in Japanese yen since November 2021

Bitcoin (BTC) surpassed 7.9 million yen in Japanese yen on the 15th, breaking its all-time high. Although there is some variation depending on the exchange, the highest price to date was about 7.9 million yen recorded in November 2021 (see Coincheck price at the time).

Bitcoin (BTC) surpassed 7.9 million yen in Japanese yen on the 15th, breaking its all-time high. Although there is some variation depending on the exchange, the highest price to date was about 7.9 million yen recorded in November 2021 (see Coincheck price at the time).

Bitcoin spot ETFs and Bitcoin halving have been in the spot market, and prices have been performing well, especially since the beginning of this year. In addition, as a result of the increasing possibility of interest rates being lowered in the United States, it is believed that funds have flowed into crypto assets (virtual currencies) as well as tech stocks.

Along with the rise in Bitcoin, altcoins have also risen significantly. Among them, Ethereum (ETH) has risen significantly due to the implementation of a major upgrade called "Dencun" next month, and like Bitcoin, it is close to breaking its all-time high in Japanese yen.

The all-time high of Bitcoin in dollars is $69,000 (approximately 10.36 million yen). With the yen weakening and the dollar strengthening, it has already broken its all-time high in Japanese yen.

At the time of writing, Bitcoin is trading at $52,500 (approximately 7.9 million yen). Its market capitalization has also exceeded $1 trillion (approximately 15 billion yen).
Image: Shutterstock

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