How does the exchange rate between yen and U.S. dollars affect the digital currency market?

1 answers

• Nov 25, 2021 · 3 years ago
  As an expert in the digital currency market, I can tell you that the exchange rate between the yen and the U.S. dollars has a direct impact on the market. When the yen strengthens against the dollar, it becomes more expensive for Japanese investors to buy digital currencies priced in dollars. This can lead to a decrease in demand for digital currencies and a subsequent drop in their value. Conversely, if the yen weakens against the dollar, it becomes cheaper for Japanese investors to purchase digital currencies, which can drive up demand and increase their value. Therefore, it is crucial for investors in the digital currency market to closely monitor the exchange rate between the yen and the U.S. dollars to make informed trading decisions.
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