Will Bitcoin price crack $22K? Dollar weakness, Bank of Japan easing boost hopes
No change in central bank policy from Japan causes ruffled feathers on forex markets, but Bitcoin remains tied to a trading zone near two-month highs. Bitcoin (BTC) faced a potentially volatile day on Jan. 18 as multiple macro triggers began to unsettle the outlook. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BoJ refuses to hike Data from Cointelegraph Markets Pro and TradingView showed BTC/USD holding firm above $21,000 on the day. The pair remained cool amid news from Japan, where the central bank, the Bank of Japan (BoJ) had decided to keep ultra-easy policy in place, defying expectations of an interest rate hike. In so doing, both the yen and U.S. dollar took a hit, the latest chapter in a saga being keenly watched by crypto commentators. "In keeping its key rate and yield curve control policy unchanged at today's meeting, the Bank of Japan probably wanted to convey a message to the market; don't fight the BoJ," ING reacted in a dedicated response...