Bitcoin / Japanese Yen

This crypto/fiat pair (BTC JPY) represents the value of 1 Bitcoin in Japanese Yen. Bitcoin is the world’s first cryptocurrency, with a strong foothold in Asian countries such as Japan. The Yen is Japan’s national currency, which is often used as part of a foreign exchange instrument, paired with fiat currencies, such as the USD and GBP. It is also widely used in Japan to acquire Bitcoin. Being a very influential cryptocurrency, the Bitcoin price can be affected by factors relating both to the mainstream financial market and the cryptocurrency market. In fact, one factor that sometimes generates extreme volatility is when Bitcoin attempts to cross over into mainstream markets in the form of an ETF or futures contract. When such a step is successful, it can have a positive impact on the Bitcoin chart. The Yen could also become volatile due to a number of factors, including rate decisions, its inverse relationship with the Nikkei index and more.