Bitbank Analyst: Bitcoin Not Out of the Woods Yet, Next Short-Term Target Around $65,000
On September 19th, Yuya Hasegawa, a cryptocurrency market analyst at Japanese Bitcoin exchange Bitbank, issued a warning about the outcome of the Bank of Japan's policy meeting starting on Thursday. He stated that Bitcoin is not out of the woods yet, saying, "The Bank of Japan is likely to keep policy rates unchanged this time, but signs of further rate hikes could boost the yen and potentially trigger a yen carry trade unwind. This could lead to a sell-off in Japanese equities, and risk-off sentiment could spill over into the crypto market. Bitcoin has some time before the Bank of Japan's decision and might continue its rally during the U.S. trading session on Thursday. The next potential short-term target is around $65,000."