Bitcoin to Yen: track BTC to JPY chart live and trade it with CFDs.
The BTC to JPY crypto-to-fiat currency pair matches the world’s most popular cryptocurrency Bitcoin with one of the strongest fiat currencies – the Japanese Yen. The pairing represents how many Yen — which is the quote currency — are needed to buy one bitcoin — the base currency.
A decade on from its launch, BTC is the largest and most valuable cryptocurrency in the world, both in terms of market capitalisation and cost. Today, it keeps its strong position at the forefront of the industry, serving as the gold standard for emerging projects.
However, it remains highly volatile, providing traders with the potential for speculation.
With digital money growing in acceptance rapidly both around the world and in Japan in particular, the trading interest in the BTC/JPY pair is likely to grow significantly in the foreseeable future. The Increased number of BTC to JPY transactions allows traders the opportunity not only to profit, but also the opportunity to diversify their portfolio.
As one of the largest economies in the East, Japan is a key player in the global crypto market. The country has a long history with Bitcoin from the name of its supposed creator, Satoshi Nakamoto; to the rise and fall of the Mt Gox bitcoin exchange; to its wide acceptance in the Japanese retail sector. As a result of this acceptance the Yen has become a popular means of buying Bitcoin.
Although the Bitcoin to Yen market has not developed into a global investment trend yet, the volume of the pair’s trades is increasing at a rapid pace. The ultra-volatile nature of the BTC/JPY pair, backed by the ever-fluctuating crypto industry, makes it a strong alternative to traditional Forex markets.
Due to its decentralised nature, BTC transactions do not require a middleman, meaning no banks or other authorities are involved. As the cryptocurrency is not tied to any particular country or region, domestic and geopolitical factors can have less of an impact on the value of Bitcoin. Instead, you should keep an eye on its demand, adoption rates, regulations and market sentiment.
The Japanese Yen is one of the most economically and financially important fiat currencies available. It is the third-most traded currency in the forex market and the fourth-most widely held reserve currency worldwide.
The Yen’s value is heavily influenced by a number of macroeconomic factors, including the GDP figures, industrial production, trading balance, inflation and interest rates.
With Contracts for difference you can profit from both negative and positive Bitcoin to Yen price swings. You can either go short or long, depending on the BTC/JPY rate movement, and benefit from the price difference.
Those interested in the BTC/JPY pair trading should keep a close watch not only of crypto market news, but also monitor the latest economic reports and the Bank of Japan’s releases that may influence the value of JPY. Follow the BTC/JPY rate live and trade this popular crypto-to-fiat currency pair at Capital.com enjoying market-leading spreads and high leverage.