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Written by Jordan Bodnar, 1.10.2017
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After its endorsement of eleven cyrpto exchanges Japan is on way to leading the bitcoin market in Asia. Demand for bitcoin in Japan has skyrocketed over the past year for both trading and services. As bitocin grows the Japanese economy may follow.
In terms of trading we're looking at the crossover between BTC and USDJPY. BTC is projected to reach over $5000 this month bouncing back from it's recent high. USDJPY shows a similar rise to $114.177.
With strong correlations to both the US and Japanese governments bitcoin can be hedged with a bullish outlook on the USDJPY pair.