Two months ago, Bitcoin in-JPY was 500,000 yen, now it’s surging past 1,300,000 yen.

Bitcoin yen is gaining momentum. From mid-May to mid-June it traded around 9 hundred thousand yen, but after surpassing the 1 million yen mark two weeks ago, it easily breached the 1.1 million and 1.2 million thresholds. Currently, it aims for 1.3 million yen.

Looking at the weekly chart, it has been rising since April this year, and in June it has been steadily advancing with a fairly steep angle. The sharp rise brings to mind the pattern after September 2017. From 500,000 yen in September 2019 to 2.3 million yen by December of the same year, it surged rapidly. At that time, there were daily reports of Bitcoin price increases, and without a pullback, buy orders fed on themselves and pushed the price up.

This time, the public isn’t as loud as it was then. What kind of price movement will it create this time? The “movement of the masses” seems likely to be the key.