Here’s how the recent plunge in global markets, affecting both cryptocurrencies and stocks, could be a game-changer for crypto.On the 5th of August, a major upheaval rocked the global economy, with markets including Japan facing a severe downturn.Japan’s Nikkei index experienced its most significant drop in decades and European stocks falling sharply, marking their worst performance in two years.“That was a crash. It smelled like 1987. Today was relentless.
Needless to say, Arthur Hayes, co-founder of BitMEX had a unique perspective to share when he said that the yen’s fluctuations could influence tech stock prices and U.S. debt dynamics. “Chemical Brothers” refers to the U.S. and Japan, while “Push the Button” means printing money or ‘injection of liquidity.’