{"id":79114,"date":"2024-05-21T04:05:46","date_gmt":"2024-05-21T08:05:46","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=79114"},"modified":"2024-05-21T04:05:51","modified_gmt":"2024-05-21T08:05:51","slug":"bitcoin-surges-in-japan-argentina-and-philippines","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitcoin-surges-in-japan-argentina-and-philippines\/","title":{"rendered":"Bitcoin Surges in Japan, Argentina And Philippines"},"content":{"rendered":"\n

Bitcoin price<\/a> hits an intraday and six-week high of $71,650 on May 21, following a gain of more than 7% over the past 24 hours.<\/p>\n\n\n\n

\"Bitcoin
Bitcoin Surges in Japan, Argentina And Philippines<\/figcaption><\/figure>\n\n\n\n

Following a 7% daily advance, Bitcoin reached all-time highs in several Asian and South American countries, bringing the cryptocurrency closer to its all-time high against the U.S. dollar.<\/p>\n\n\n\n

On May 21, Bitcoin prices reached a six-week intraday high of $71,650, a gain of over 7% over the previous twenty-four hours.<\/p>\n\n\n\n

According to CoinGecko,\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> the asset has retraced to within 3.4% of its all-time peak in U.S. dollars, which was $73,738 on March 14. As a result, Bitcoin reached new peaks compared to several other fiat currencies.<\/p>\n\n\n\n

CoinMarketCap reports that at the opening of trading\u00a0on May 21<\/strong>, Bitcoin reached an all-time high of 11.2 million yen in Japan. This\u00a0marks the asset's initial valuation of over\u00a011 million yen<\/strong>. In recent months, the local currency has experienced a depreciation against the U.S. dollar, with a 10% decline observed since January.<\/p>\n\n\n\n

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BTC\/JPY one year. Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

In Argentina, Bitcoin reached its highest point in price on May 21, when it reached 63.8 million Argentine pesos, a marginal increase from its March apex.<\/p>\n\n\n\n

Recently, the currency of South American countries has\u00a0been devalued, and inflation has skyrocketed to an all-time high of 290%. On May 21, 1 Bitcoin momentarily peaked in value at 4.18 million pesos in the Philippines, surpassing levels seen in mid-March.<\/p>\n\n\n\n

According to industry analyst Thomas Fahrer on X, additional countries where Bitcoin prices have reached or approached their mid-March peaks include Turkey, Britain, Australia, Canada, Chile, Colombia, Egypt, Israel, Norway, India, South Korea, and Taiwan.<\/p>\n\n\n\n

#Bitcoin<\/use><\/svg><\/span><\/a> is back to ATH all over the world ???? pic.twitter.com\/BDoxNPlkVb<\/use><\/svg><\/span><\/a><\/p>— Thomas | heyapollo.com (@thomas_fahrer) May 21, 2024<\/use><\/svg><\/span><\/a><\/blockquote> \n\n\n\n

Willy Woo, a cryptocurrency analyst, noted hours earlier that a short position accumulation of one month's worth of Bitcoin had just\u00a0been liquidated, he continued:<\/p>\n\n\n\n

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\u201cOne more layer to go in order to short-squeeze past all-time highs,\u201d<\/p>\n<\/blockquote>\n<\/div>\n<\/div>\n\n\n\n

Coinglass<\/use><\/svg><\/span><\/a> reported that 79,010 traders were liquidated in the preceding twenty-four hours, representing $345 million in total crypto liquidations, of which 78.5% were short positions.<\/p>\n\n\n\n

In a market update, Markus Thielen, head of Research at 10x Research, predicted earlier this week that a \u201cbreakthrough above $67,500 could potentially lead to new all-time highs.\u201d. As at the time of writing, Bitcoin\u00a0is trading\u00a0at $70,945, $2,500 less than its all-time high in U.S. dollars.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin price hits an intraday and six-week high of $71,650 on May 21, following a gain of more than 7% over the past 24 hours. Following a 7% daily advance, Bitcoin reached all-time highs in several Asian and South American countries, bringing the cryptocurrency closer to its all-time high against the U.S. dollar. On May […]<\/p>\n","protected":false},"author":53,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83],"tags":[5666,6119,15048,5506,19639],"class_list":["post-79114","post","type-post","status-publish","format-standard","hentry","category-bitcoin-news","tag-argentina-2","tag-bitcoin-price-2","tag-bitcoin-price-analysis","tag-japan-2","tag-phillipines"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/79114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=79114"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/79114\/revisions"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=79114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=79114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=79114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}