How does the ドル/円 exchange rate affect the value of cryptocurrencies?

3 answers

• Mar 07, 2022 · 3 years ago
  The ドル/円 exchange rate can have a significant impact on the value of cryptocurrencies. When the US dollar strengthens against the Japanese yen, it can lead to a decrease in the value of cryptocurrencies. This is because a stronger dollar makes it more expensive for Japanese investors to buy cryptocurrencies, resulting in a decrease in demand and therefore a decrease in prices.
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• Mar 07, 2022 · 3 years ago
  On the other hand, when the Japanese yen strengthens against the US dollar, it can lead to an increase in the value of cryptocurrencies. A stronger yen makes it cheaper for Japanese investors to buy cryptocurrencies, which can increase demand and drive up prices.
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• Mar 07, 2022 · 3 years ago
  From BYDFi's perspective, the ドル/円 exchange rate plays a crucial role in determining the value of cryptocurrencies. As an exchange that facilitates trading between the US dollar and the Japanese yen, fluctuations in the exchange rate directly impact the prices of cryptocurrencies on our platform. Traders need to closely monitor the exchange rate to make informed decisions about their cryptocurrency investments.
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