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HomeFinance NewsBitcoin's Price Falls Below $63K Amid Japan's Pension Fund Interest.

Bitcoin’s Price Falls Below $63K Amid Japan’s Pension Fund Interest.

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Bitcoin started 2024 with a bang, breaking new all-time highs and thrilling global investors. However, the rapid price growth has slowed down, with Bitcoin dropping by over 10% in the past week, falling below the $63,000 mark. Many experts see this as a natural correction, as seen in previous Bitcoin price movements when it has corrected 10% or more multiple times before reaching new highs.

Robert Kiyosaki, the author of “Rich Dad Poor Dad,” sees market drops as an opportunity, stating that “all market crashes are assets going on sale.” In the case of Bitcoin, this recent price drop could be viewed as it being “on sale,” attracting potential buyers. The approval of spot exchange-traded funds (ETFs) and the upcoming Bitcoin halving have been major factors driving Bitcoin’s growth in 2024.

The Government Pension Investment Fund (GPIF) of Japan has shown interest in potentially including Bitcoin in its future investment portfolios. With assets worth nearly $1.5 trillion, GPIF’s move could signify a major shift in institutional views towards Bitcoin. If the fund decides to invest in Bitcoin after its preliminary research, it could have a significant impact on the digital currency market and further legitimize Bitcoin as a viable investment option.

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