As the bitcoin price broke a significant resistance level this week, accounts of Japanese investors who have been dormant for a long time are reported to be moving again.
The biggest cryptocurrency Bitcoin, with its market value, has left a significant resistance level behind, while the Japanese cryptocurrency accounts that have been inactive for a long time are back in action.
The co-founder of Coincheck, one of the country’s largest crypto exchanges, Yusuke Otsuka, told the press that existing users who have not taken any action for a while have begun trading again this week.
Otsuka also stressed that there was a significant increase in the amount of money entering the accounts and said, “The initial rate is high since some of our users already have accounts.” said. Pointing out that the past and the present are different, Otsuka said, “If the user wanted to invest in crypto money, he should have waited for a while to get his account verified, but the big difference now is that the user already has an account.” spoke in the form.
According to Reuters, Coincheck announced that its business volume tripled compared to the previous week. Otsuka attributes this to the printing of money after Kovid-19.
Oki Matsumoto, CEO of Coincheck’s parent company Monex Group, said that those who missed the rise in gold prices may be interested in Bitcoin right now. As it is known, the price of gold had reached almost 2000 dollars by exceeding the all-time high in recent days. Bitcoin also broke the downtrend that reached the peak of $ 20,000 in 2017 earlier this week.
“Previously, the macroeconomic environment and Bitcoin were separate, but they are moving together nowadays,” said Otsuka. says.
Another reason for the increase in the transaction volume and price of Bitcoin in Japan is the incentives of the Japanese government. In April, the government started giving 100,000 yen (about $ 930) to each household.