Bitcoin Price Nosedives After Putin Declares War on Ukraine.

Thoughts on the Crypto-market on 24.02.2022

Bitcoin showed a good short lived growth yesterday, not only worked out the priority option, but also left the upward range, reaching local highs above $39,200. Before the geopolitical factor turned on again, Bitcoin went below $35K and is now trading around $34,700- $34800.

Total Crypto Market capitalisation: $1.586 Trillion,
BTC dominance index 41.7%,
Fear index 23.

Stock markets too fell yesterday, US indices sank about 2% on average, S&P 500 closed at 4225. So far, everyone has forgotten about inflation and the Fed, and they don’t remember about the coronavirus at all. Markets are now driven by news from Ukraine, so today they will obviously look for the bottom. We talked about a bottom for the S&P500 in the area of ​​4100-4000, in case of a strong aggravation of the situation may see it at 3800.

On the Russian market, the fall will be stronger, as, most likely, new sanctions will be included. These sanctions are unlikely to affect energy resources and how to pay for them, since oil today is clearly aimed at reaching the 100 mark. Scores of people are now exiting the city of Kiev, there are many kilometers of traffic jams are leaving the city, via @The Insider reports.

I like what Economist Jason Furman, a former advisor to President Barack Obama, said this week, “Russia is incredibly unimportant in the global economy except for oil and gas. It’s basically a big gas station.” With supply chains already stretched thin and inflation on the rise globally, an energy shortage will only add to the worries of businesses and consumers alike. Although Bitcoin is often touted as a hedge against inflation and economic certainties, it's introduction to traditional finance means that its price movements are increasingly correlated to stock markets. Lest we forget Bitcoin has lost almost half its value since its November high of $68,990.

Bitcoin, even against such a background, did not reach the lows of January this year and is now trying to return above $35K. If this attempt is successful and the Bitcoin returns to the previous range of $36,500- $38,800, then a return above $40K is a matter of a few days. But not with the current background of news.

In this case, we expect a bias of Bitcoin below $35K, and an update of the January lows, a test of the $30- $32K zone. We talked about it here(https://t.me/decryptedge/1016).


This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy: decrypt.co

Mexican Senator Aims to Introduce Bitcoin Legal Tender Bill, as Mexico’s third-richest man says Buy Low.

Thoughts on the market on 25.02.2022.

It seems that the markets are calming down after yesterday's shock, everything has already happened, the markets have reacted, the worsening of the situation can only be in the event of an increase in the number of participants in the conflict, which is not realistic but probable.

The Russian stock market registered a record drop of almost 50%. The situation will clearly be a shock for new market participants who massively came to it in 2020-2021 and greatly worsened the quality of the audience.

Please note that coronapsychosis, omicron is now history, no one remembers it anymore. But we cannot forget about the record inflation of the dollar. I think that this topic will determine the mood of the markets in the coming months. I hope that within the next 10-15 days we will hear good news from Ukraine.

Bitcoin yesterday not only did not break through the bottom and did not update the January lows, but also moved to a steady growth. Large purchases threw the price back above 40300. Then a rollback followed, and for the last 4 hours Bitcoin has been trading in the range of $38,200- $39,000. Talk about volatility.

Total Crypto Market capitalization $1.726 Trillion,
BTC Dominance index 42.6%,
Fear index 27.
Dollar index after reaching highs above 97.7 is declining to 96.83.

Interestingly, after the success of El Salvador, which, after the full legalization of Bitcoin, received a previously unseen GDP growth of 10.3%, Mexico wants to do the same.
Mexican senator for the State of Nuevo León, Indira Kempis, has stated that she wants to make the country second after El Salvador to adopt Bitcoin. However, the chances of this actually happening are slim at best. “We need bitcoin to be legal tender in Mexico, because if it is not so, if we do not make that decision as El Salvador did, it is very difficult to take action.”

The central bank also plans to roll out a digital Peso by 2024, as reported by @CryptoPotato.
Mexico’s third-richest man, Ricardo Salinas Pliego,(https://t.me/decryptedge/156) thinks otherwise and has doubled down on previous Bitcoin statements. Over the weekend, he tweeted, “You have to buy bitcoin (keep buying when the price is low), then just hold your BTC, forget about selling … Trust me, you’re going to thank me later.”

Wishing you a great day ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge

ECB Wants Quick Action on Crypto Regulation Following Russian Sanctions And BitConnect Founder in $2.5Billion Case Charged.

In case you missed it, the ECB Wants Quick Action on Crypto Regulation Following Russian Sanctions. ECB parliament yesterday postponed a vote on a regulatory framework for cryptocurrencies. Speaking to the press following a meeting of the EU's Economic and Financial Affairs Council, ECB President Christine Lagarde said it's "critically important" for the so-called MiCA legislation to be pushed through as soon as possible. Source: Coindesk.

In other news, the US Justice Department Indicts BitConnect Founder. The federal grand jury charged BitConnect founder Satish Kumbhani with defrauding investors of some $2.4 billion through its lending scheme. ​​“As cryptocurrency gains popularity and attracts investors worldwide, alleged fraudsters like Kumbhani are utilizing increasingly complex schemes to defraud investors, oftentimes stealing millions of dollars,” quoting the agents involved in the case. “However, make no mistake, our agency will continue our long tradition of following the money, whether physical or digital, to expose criminal schemes and hold the fraudsters accountable for their illegal acts of trickery and deceit.”

Crime, particularly crime involving digital currencies, continues to transcend international boundaries,” said Assistant Attorney General Kenneth A. What is commendable is the department’s commitment to protecting victims, preserving market integrity, and strengthening its global partnerships to hold accountable criminals engaging in cryptocurrency fraud.

With Bitcoin gaining a foothold above $40K last night, it also saw rollback from $40,400. At the time of writing the review, the price is trading around $39,400 - $39,500.

Assumptions that the market had already reacted to the Ukrainian events were justified, and the bottom of the S&P 500 turned out to be exactly where we mentioned 4100 - 4000 range. It closed at 4114.

Total Crypto Market capitalisation: $1.798 Trillion,
BTC Dominance index: 41.8%,
Fear index 26.

Over the weekend, expect further attempts to gain a foothold above 40K, which, most likely, will lead to success. This is the priority option.

The alternative - falling below 38200 - will delay taking 40K for a while. This option is less likely, but possible if the next attempt to take 40K does not lead to success. In the case of working out the priority option, altcoins will also show significant growth.

This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:

Thoughts on the market on 28.02.2022

Bitcoin was in the range of $39,850- $36,934 over the weekend, attempts to take $40K did not succeed, at the time of writing this review, it is trading around $37,600.

Total Crypto Market Capitalization $1.718 Trillion.
BTC dominance index 41.8%,
Fear index 20%.

S&P 500 futures are already in the red by more than 2.5%, the dollar index is rising, and has now reached the levels of June 2020, approaching 97.3. Oil and metals are growing significantly, in anticipation of a shortage in the market due to possible difficulties in settlements with Russia.

Oil is still below 100. But it won't be for long. Although I do not rule out the possibility that our Western "friends" will now quickly lift sanctions from Iran in order to officially bring its oil to the market, and will put pressure on OPEC for the same purpose.
Russia's Central Bank has banned brokers from carrying out orders from foreign companies or individuals to sell securities. This is a reserve lock, most likely trading on the Russian markets today will be closed or limited.

Bitcoin worked out an alternative version of the review, and failed to overcome the resistance area. Against the backdrop of what is happening in the stock markets, the asset maintains an amazing resilience. Many are aware of the scale of what is happening, and the flow of fiat to crypto will increase. Also expect an outflow of funds from crypto exchanges, due to talk about blocking clients from Russia and Belarus. A total block has been introduced so far by several small exchanges. Many will prefer to withdraw funds from large exchanges before the situation is clarified. This will increase the resistance of the crypto market to a fall, as it will reduce sales under the influence of emotions.

The market for services related to money transfers outside the banking system will also grow strongly. Services that can properly provide these services will be at a great position.

Today expect Bitcoin is in the range of $36,500- $39,800. An alternative option is fixing above 40K. Can we fall below? Yes, what is happening now in the financial markets is unparalleled, hence everything is possible and be prepared even for unlikely options.

China’s Supreme Court now adds fuel to the fire after the Russian military attacks on Ukraine slipped the crypto market cap to $1.5 trillion. The court declared that crypto-fundraising illegal and determined jail time and fines for suspected persons. To be clear, the new bill announced on Thursday is an amendment to previous legislative documents regarding cryptocurrency transactions, and it will come into force by 1st March. In this ruling, one of the amendments in section no. 8 of Article 2 identifies “illegal fundraising by way of online lending, investment in shares, and virtual currency transactions.”

This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:

Ukraine Government Turns to Crypto to Crowdfund Millions of Dollars, $22.8Million Raised So Far!

A lot of money is leaving the sufficiency of sanctions in crypto, and the process is just beginning and expanding. Many ordinary people who kept 200- 500K euros in a foreign bank are looking towards crypto, because they do not have confidence in the safety of their funds and the ability to manage them. Sanctions pressure is growing, several Russian banks have been disconnected from Mastercard. Sanctions against Russia are not supported by China, whose Foreign Ministry said that "unilateral sanctions could interfere with a political settlement in Ukraine" and "China and Russia will continue normal trade cooperation."

The most interesting thing is happening now in the crypto market. Bitcoin worked out an alternative version of yesterday’s review fixing above 40K, after which it overcame the resistance area of ​​$41,800- $42,400. It is not so much the fact of growth that is important here - it was understandable and expected. The important thing is that this happened in a falling stock market.

The priority option for Bitcoin today is continued growth and an attempt to gain a foothold above $45K. What happens next depends on the results of this attempt. An alternative option is a rollback to $41,400- $41,200. Bitcoin dominance is growing, unless there is a quick take of $45k and further growth, altcoins will quickly catch up.

Market capitalization $1.904 Trillion,
BTC dominance index 42.9%,
Fear index 51.
The dollar index: 96.8

The main risk on the crypto market now is where Russian money goes, not only we know. This process can increase pressure on large crypto exchanges and tighten KYC / AML. There will be keen and close attention to Russian accounts in any case. Therefore, many are working ahead of the curve, withdrawing crypto from exchanges until the situation is cleared up, which is also good for the growth of crypto assets.

The Ukrainian government – and NGOs providing support to the military – have raised $22.8 million through more than 24,000 cryptoasset donations since the start of the Russian invasion. One NGO received a single Bitcoin donation worth $3 million. The majority of donations received to date have been in Bitcoin and Ether, although US dollar stablecoins contribute a significant proportion. But it’s not only cryptoassets that are being donated; people are also sending NFTs to the Ukrainian government’s Ethereum account. One such NFT has a value of approximately $300.

Scammers also appear to be taking advantage of the current situation by tricking unsuspecting users wishing to donate to Ukrainian causes. Elliptic has identified a number of fraudulent crypto fundraising scams which are exploiting the current situation. So be ware.

This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:

Airline Stocks Fall Following European Airspace Restrictions, As FIAT Money Flights into #Crypto

Thoughts on the market as of 02.03. 2022.

Oil continues to rise, Brent is already above 110. OPEC takes a pragmatic stance and is not going to increase production, Saudi Arabia declares its commitment to the OPEC + agreement and emphatically refrains from any sanctions, the release of 30 million barrels of oil to the market from the US reserves on the situation especially didn't affect. Most likely, they will quickly remove sanctions from Iran in order to increase the supply.

Today there will be data on the US labor market and the OPEC summit will be held. Interestingly, a rate increase of 50 points in March is no longer considered, only 25 points. The need for tighter monetary policy is diminishing due to rising military budgets and disposal of excess dollars.

Apple Inc now leaves the Russian market, the company announced the termination of deliveries to Russia of its products and support for services. I think this only applies to official deliveries, and they must be building a non-official supply chain.

Brazil, India, China, South Africa - Russia's BRICS partners did not support the sanctions. Also from large countries, Argentina, Mexico and Turkey did not join the sanctions. Russia's response to sanctions by European governments to restrict Russian flights has already collapsed airline shares upto -30%. Without access to Russia’s airspace and
vis-à-vis, carriers will have to divert flights south while also avoiding areas of tension in the Middle East.

On the crypto market, Bitcoin support remains at $43,200- $43,300, it is obvious that there will be attempts to take $45K, and there is a high probability that these attempts will be successful. This option is currently the priority. The alternative is a rollback to the support in the area of $​​41,200- $41,400. In the case of working out the priority option, an increase in the dominance of Bitcoin and the raise in total crypto market cap to $2Trillion. The reason for this is obvious - even last weekend, when it became clear that the sanctions would be quite tough this time, new money went into crypto. Many people who only “heard something like that” about cryptocurrencies were forced to quickly master the topic. Since these new people have only heard about Bitcoin, all these new flows go either to Bitcoin or USDT. This process is now in full swing, and will actively continue further. Evident by the % of contributions to Ukraine.

Market capitalization $1.931 Trillion,
BTC Dominance Index :43.3%,
Fear index 52.

I see a lot of Bitcoin bullish sentiments on Twitter, please note as long as btc below $55K/ $65K weekly, and about the current movement as we said since 22 Nov when BTC was at $60K (https://t.me/decryptedge/860) "we looking for a breakdown in Q1 of 2022 to $40(breakdown already happened) next level is 35/32K/28K!"

Remember this is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge. Images Courtesy:

It’s Possible to Have More than One World Reserve Currency!

Thoughts on the market as of 03.03.2022

Bitcoin maintained the $43,430- $44,350 range for the past 12 hours. There have been no movements to attempt $45K. At the time of writing, the price is trading around $43,700.

US markets were up yesterday. The Dow Jones added 1.79%, the Nasdaq rose 1.62%, the S&P 500 added 1.86% to close at 4386. Oil continues to make highs, Brent is above $116, a 9-year high. Gold is confidently holding on to the achieved levels, it does not show strong growth yet, but it retains its potential.

The Fed announced a rate hike in March followed by a balance sheet cut. So far, this has not scared anyone, since it has already been worked out earlier. In addition, investors understand that inflation will soon be partially neutralised by huge military budgets and the growth of military orders.

In the medium term, I would not bet on the dollar. China, which did not support the sanctions and declared that it remains a partner of Moscow, will clearly build an alternative to the existing financial system. The BRICS countries are looking in the same direction and may well join them.

The story of sanctions against Russia, and especially with the reserves of the Central Bank, which I spoke about here(https://t.me/decryptedge/1028), has brought to light to everyone that dollar reserves are a dangerous thing and any country can be deprived of the right to dispose of its money at any moment.! If now the dollar, being the world's reserve currency, is already suffering from inflation, what will happen with a significant reduction in the scale of its use? In his speech yesterday, Federal Reserve Chair Jerome Powell talked about balancing high U.S. inflation against the complex new risks of a European land war, and said the central bank would begin “carefully” raising interest rates at its upcoming March meeting but be ready to move more aggressively if inflation does not cool as quickly as expected. Powell called the Russian invasion of Ukraine "a game changer" that could have unpredictable consequences. Most importantly he stated that “it's possible to have more than one reserve currency”

So after two unsuccessful Bitcoin attempts to gain a foothold above $45K, it began to slowly roll back from this level. If it goes below $43,200- $43,000, a correction towards $41,200- $40,800 is possible. I noticed a lot of BTC inflows to exchanges Binance & Coinbase specifically from data shared by CryptoQuants. You know what's coming. Read here (https://t.me/decryptedge/660)

Total Crypto Market capitalisation $1.922 Trillion,
BTC Dominance index 43.2%.,
Fear index 39.
Dollar index above 97.5

For further growth, it is necessary to secure the capitalisation of the crypto market above $2 Trillion, and Bitcoin above $45K. Once that happens, it will be a matter of time before the main cryptocurrency takes $50K. Highly unlikely now, that is our biased view.

Wishing you a great day ahead, remember you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge.

Billionaire Investor Bill Miller says Russian ruble crisis ‘is very bullish for Bitcoin’

Bitcoin lost support at $43,200- $43,000 and reclined to a low of $41,050. It then moved to consolidation around $41,400 where it's currently being traded.

Crypto Market capitalisation $1.829 Trillion.
BTC Dominance index 43.0%
Fear index 33.
The dollar index: 97.9

The fears against the backdrop of a fire at the Zaporizhzhya nuclear power plant in Ukraine and its' negotiations with NATO, which will be held today, will push through the unmanned zone.
I don't think it will come to that. The self-preservation instinct of our Western "friends" is highly developed, and the unmanned zone is a real threat of nuclear war. I think that this issue will not even be discussed. Otherwise, you may not have time to see Bitcoin at 100K.

In yesterday's meeting Ukraine and Russia have agreed to create humanitarian corridors in areas of Ukraine where fighting is worst, Ukrainian presidential adviser Mykhailo Podolyak said after negotiations between the two sides. Speaking at a news conference, Zelenskiy also called on the West to increase its military assistance after NATO members ruled out enforcing a no-fly zone for fear of igniting a direct war with nuclear-armed Russia. President Vladimir Putin vowed to press on with the invasion despite a global clamor for an end to hostilities and the damaging effects of sanctions on Russia's economy.

Sanctions have prompted an exodus of western companies from Russia that is as sudden as their entry more than three decades ago. ExxonMobil, BP and Shell are hurrying to offload Russian investments; AIrbnb, Apple, Google and Facebook have curtailed their services in the country; Walt Disney and Live Nation have scrapped film launches and rock tours; and clothing brands such as H&M and Nike have followed car makers including Volkswagen, Toyota and Mercedes-Benz in suspending deliveries or operations. Source: FT.

Bitcoin fell to the level we indicated in yesterday's bias review.(https://t.me/decryptedge/1034). A year ago,(https://t.me/decryptedge/283) we wrote about billionaire Bill Miller, who started buying Bitcoin back in 2014. He has now said that the situation with sanctions against Russia is an extremely bullish signal for Bitcoin. Could that be the case? As reported by FinBold, Miller, believes the current geopolitical situation surrounding Russia “is very bullish for Bitcoin,” which he also described as “unique.” “If you are a country out there that has a non-reserve currency (there’s about 100 of them) you might think about something else out there that other countries cannot harm us with, that is impervious to inflation or to being manufactured in greater quantities. So I think it's very bullish for Bitcoin in particular.” Well I hate to spoil the party isn't this the time prices revert to mean?

Data from @cryptoquant_official indicates that aggregated inflows to exchanges are continuing to rise. Last 24hrs has seen a total of 5915.06 Bitcoins transferred to Binance and Coinbase. Tallied up, this may see a declining crypto-market capitalisation to below $1.5T this month.

Wishing you a great day ahead and remember to always do your own research. This is not traditional investment advice and ought not to be deemed as financial recommendation. Must do your own research. #Decryptedge

Sanctions and More Sanctions, Uncertainty Looms!

Bitcoin saw a -7.78% correction yesterday to a low of $38,585. It is now trading at $39,067.

Total Crypto Market capitalization $1.741 Trillion,
BTC Dominance Index: 42.5%,
Fear index 22.

Stock markets were down yesterday. Dow Jones fell 0.53%, Nasdaq fell 1.66%, S&P 500 shed 0.79% to close at 4328. BRENT oil is going parabolic and closed above $118, gold is also up trading at $1,974, likely to take $2,000 next week.

The fall of the market cannot be called significant. Rather, this is a planned closing of positions before the weekend, since it is not known what news will unfold and when the markets open on Monday. The situation in Europe is different, Bank of America reports that this week was the largest outflow of money from European markets in history. The US is practically not suffering from the history of sanctions, and Europe is already paying a high price. With the closed skies and the no-fly zone, the expected result, the instinct of self-preservation. There is information that negotiations will be held at the weekend.

Twitter and FB are blocked in Russia. Whatsapp is likely to be untouched unless there is further escalation. Porsche, Louis Vuitton left the Russian market. Information is contradictory for Cola and Samsung, so far. Bloomberg also stopped working. As the famous saying goes “When there’s blood on the street…” It is reported that Goldman Sachs and JPMorgan are starting to buy cheaper Russian corporate bonds (and Ukrainian ones too). What does this mean, figure out yourself.

Let's get back to crypto. The decline of Bitcoin below $40K is most likely a reaction to information about the blocking of Russian crypto assets. Russia accounts for quite a significant holding of crypto. (https://t.me/decryptedge/763). Some South Korea exchanges blocked access to users with Russian IP addresses, USDC (Circle), also announced the blocking of payments from Russia, then the statement of the US Treasury Secretary about “close attention” to attempts to circumvent sanctions through cryptocurrencies. Different services (SEO, affiliate services, marketing platforms) have blocked accounts of all Russians.

What next for Bitcoin? On the thin weekend market, a break to $38, 200 is also possible, if this support fails, then all the way to $37,500. If Bitcoin holds above $38,500, it will return above $40K by Monday, with the subsequent achievement of capitalization goals above $2 Trillion, and fixing the main cryptocurrency above $45K. Highly unlikely now.

Wishing you a blessed weekend ahead and remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.

Ukraine, Russia, Sanctions and Crypto as Russian banks may issue cards with China's UnionPay as Visa, Mastercard Cut Links.

With all the factors considered and that ensured the growth of Bitcoin last week, that is a significant part of Russian money and will actively continue over the coming months, would be a cause for growth as everyone is expecting a return of Bitcoin above $40K within a few days and a further target of $2 trillion by capitalisation thus validating a bitcoin at $45K. Well fact is highly unlikely, @Biannce CEO CZ just tweeted this: “Fact: there are about 350 banks in Russia. Only about a dozen are on the sanction list. And everyone's focused on crypto. (ps, none of them work with crypto exchanges)” More on this below..

For now lets look at Bitcoin that continues to decline to a low of $37,520 and at the time of writing this review, it is trading at around $38,450. Market capitalization is at $1.711 Trillion, BTC dominance index at 42.3% and fear index at 23. The futures on the S&P 500 are falling, oil is already above $128, gas is renewing its highs and has already exceeded 3000. Prices for raw materials and metals are skyrocketing. Aluminum - 4000 per ton, gold over 2000.

The dollar index is approaching 99. The last time such values ​​were during coronapsychosis around May of 2020 which saw it attain ATH of 103. We may see the bottom of the S&P 500 at 4000-4100 and a low of 3600-3700, in case of a strong aggravation of the situation with Russia and Ukraine fuelled by inflation.

With Bitcoin now below $40K, there are no growth attempts in sight. This should be perceived as an opportunity for those who wanted to buy an asset cheaply, but how low can it go? $20K-$17K? Who knows!

In recent write up by CZ about Ukraine, Russia, Sanctions and Crypto, he said “If we look at the crypto adoption today, there is probably about 3% of the global population with some kind of crypto exposure (ie, owning some crypto).” adding that “Of those, most only have a small percentage of their net worth in crypto. Less than 10% on average. So, there is probably only less than 0.3% of the global net worth in crypto today. This percentage applies equally to Russia. Now, instead of focusing on banks, which hold 99.7% of the money, the media and politicians are focusing on 0.3% of the money.” Read it here: https://www.binance.com/en/blog/leadership/ukraine-russia-sanctions-and-crypto-421499824684903532

Lastly, Credit cards issued by Russian banks using the Visa and Mastercard payment systems will stop functioning overseas after March 9, Russia's central bank said on Sunday, adding that some local lenders would look to use China's UnionPay system instead. As reported by @Reuters several Russian banks already use UnionPay, thousands of Russians, including holidaymakers, are stranded abroad after many countries closed off their airspace to Russian aircraft while Russia has retaliated with flight bans for many foreign airlines. Going forwards we are going to see a mutual Russia-China collaboration, reminds me of an article I read last week talking about Russia and China collectively challenging the dollar's reserve status. Both countries have been coincidentally stacking Gold!

Wishing you a great day ahead, remember you must always do your own research. This is not traditional investment or financial advice. Blessed day ahead. #Decryptedge.