Japan PM Takaichi Pro-Growth Policies Dem Boost Di Crypto Market Rally
Japan new Prime Minister, Sanae Takaichi, don dey push pro-growth policies like low interest rates, tax cuts plus big stimulus to boost risk assets and crypto market. After she take office on October 15, Nikkei 225 climb 4.75% reach record 47,734.04, showing say investors dey more willing to take risk. For 2019, when she be internal affairs minister, she support crypto donations for politicians. As US government shutdown dey near, investors dey shift money go Bitcoin, wey push BTC pass $125,700. Plus, Japan Financial Services Agency don suggest say make dem classify cryptocurrencies as financial products under Financial Instruments and Exchange Act. This regulatory change fit make crypto ETFs possible and set 20% tax on digital asset income. Traders suppose watch make domestic demand increase plus clearer rules wey fit keep crypto market dey climb.
Bullish
Takaichi low-rate, tax-cut plus stimulus measures don don increase risk appetite, wey push Nikkei go higher. Her support for crypto donations plus FSA plan to reclassify cryptocurrencies go bring better rules and open way for crypto ETFs. For short-term, Bitcoin fit see price spikes as investors dey look for yield. For long term, steady monetary easing plus regulatory certainty go support sustained bullish momentum for crypto market.