Bitcoin has fallen about 25% since closing in on $20,000 on 18 December, trading around $14,500 in New York on Friday afternoon. Photo: ReutersNew York: Bitcoin’s about to boost the world’s third-largest economy, according to analysts at Nomura. The digital coin’s 1,500% rally this year has left crypto-crazed Japanese investors likely sitting on hefty gains that Nomura thinks will spur consumer spending. “Rises in asset values often result in a rise in consumer spending, too, known as the wealth effect,” the team, led by Yoshiyuki Suimon, wrote on Friday. Bitcoin has fallen about 25% since closing in on $20,000 on 18 December, trading around $14,500 in New York on Friday afternoon.

Source: Mint December 30, 2017 06:56 UTC