Andre Dragosh, head of the European Bitwise Research Department, said that the current bitcoin rally is directly related to growing problems in the Japanese government bond market.

The expert drew attention to the sharp increase in the profitability of long -term Japanese bonds, which indicates serious macroeconomic imbalances.

“An increase in bonds reinforces fears about the stability of the debt system, which leads to an increase in credit risks and further growth growth. In fact, this creates a vicious circle of fiscal problems, ”Dragosh explained.

According to the analyst, institutional investors in conditions of increased volatility of the Japanese debt market can consider bitcoin as an effective tool for hedging of sovereign risks.

Dragosh noted that the crisis in the Japanese market also exerts pressure on other debt markets, including American treasury bonds. If the trend is preserved, a combination of growing revenues and fears of defaults can push a bitcoin exchange rate to a level of $ 200,000, the expert believes.

Earlier, experts of the QCP Capital trading company reported that the mood in the Bitcoin market went into a state of uncertainty due to the exacerbation of trade contradictions between the United States and the European Union.