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.

Biden to Sign Crypto Order This Week as Firms Face Sanctions Pressure.

Thoughts on the market as of 08.03.2022

Bitcoin reached a low of around $37,130, and later bounced back to $38650 zone and even updated a high of $39,101. Total Crypto Market capitalization is at $1.728 Trillion, with BTC Dominance index of 42.4%. Fear index is at 21.

Markets are feeling the impact of anti-Russian sanctions. Oil exceeded $130 yesterday, gas price reached 3900 and Nickel rose by 40% in 1 day. Shares of European airlines are falling rapidly. The chemical industry of the EU is also under attack, especially in terms of the production of fertilizers. Such prices for energy carriers, metals and raw materials in the conditions of growing inflation are the way to stagflation and recession. Moreover, the European economy will bear the brunt. The Europeans understand this and do not want to sacrifice themselves - Germany announced that "business with Russia in the field of providing energy resources will continue, since there are no other ways to ensure Europe's energy security now." The same was stated by the Prime Minister of Bulgaria.

The fact that sanctions are expensive for Europeans will not last long. Apparently, JPMorgan is thinking the same thing, which is why they recommend their clients to buy bonds of Russian companies.

For today, if the price fails to gain a foothold above 39K, a second correction towards $37,500- $37,000 is possible. This is with the backdrop of the dollar index rising, which is now at its highest levels since May of 2020.

The US government's plan for cryptocurrencies will be published this week. It is clear that there will be some tightening of the current rules; the question is the degree of this tightening and the reaction of the market to it. As reported by @Bloombreg Tax, the executive order will outline the U.S. government’s strategy for cryptocurrencies, according to people familiar with the administration’s plans. The order will direct federal agencies to examine potential regulatory changes, as well as the national security and economic impact of digital assets, said the people, who asked not to be named discussing the deliberations. The White House’s approach to crypto has attracted fresh attention in recent weeks after the U.S. and its allies levied sanctions on Russia, prompting concerns that organizations and individuals could use crypto to evade the restrictions.

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

Bitcoin up 8% as Biden Announces Executive Order on Cryptocurrencies. Let's Talk About Stagflation.

Thoughts on the market as of 09.03.2022

Stagflation(stagnated/inflation) is a combination of weak economic growth, unemployment as a result of weak growth, and high inflation. All the conditions have been created for this - at first, on the wave of coronapsychosis, the economy was flooded with money, dispersing inflation and causing the first wave of rising prices for commodities. Now the sanctions have further dispersed the commodity market. At the same time, sales income from most markets were limited/low for a significant number of companies, and costs increased for almost all companies.
Here is a slowdown in economic growth, followed by an increase in unemployment. Inflation is somewhat record high, and at such prices for raw materials, energy and food (this is a lead indicator), it will only increase. This puts us in a stagflation trap, which is difficult to get out of. To raise rates is to slow down economic growth even more (which is not there anyway). Lower rates - they are already at a minimum, and where to lower them with record inflation.

It is difficult to get out of this trap by economic methods. True, there are non-economic ones, and this is what worries mostBitcoin successfully held above $38,200 and attained a high of $42,559. At the time of writing this review, it's trading at $42,149.

Total Crypto Market capitalization $1.862 Trillion, BTC dominance index 42.3%, and fear index of 22. Oil is still above 130 (Brent), gold $2057, dollar index holding around 99. Earlier the markets were afraid of inflation and the Fed's reaction to it, now it's stagflation.

For Bitcoin’s further growth, it is necessary to fix above the resistance area of $41,400- $41,800. Alternative - return to $38,500- $38,000. A good sign is that the correlation between the S&P 500 and Bitcoin is decreasing. According to Kaiko, it is at a two-month low.

To some news, US Deputy Secretary of State Victoria Nuland made two interesting statements yesterday. In the first, she said that the United States is studying and consulting with partners from Europe about restrictions for the Russian Federation on access to cryptocurrency.

President Joe Biden highly-anticipated announcement, executive order on digital assets that appeared to take a supportive stance toward the industry.The executive order also directs the U.S. government to explore “the technological infrastructure and capacity needs for a potential” central bank digital currency. That is a digital currency that would be issued by a central bank unlike a cryptocurrency such as bitcoin which is not controlled or issued by a single entity.
Treasury Secretary Yellen said in her statement on Wednesday that the executive order “calls for a coordinated and comprehensive approach to digital asset policy.” The executive order appears to be broadly welcomed by the cryptocurrency industry and investors.

Treasury Secretary Yellen's statement which was initially published ahead of the official executive wrote that it “calls for a coordinated and comprehensive approach to digital asset policy.” Couldn't agree with it more. This may see a price to $43,590 before the alternative option takes shape. Don't be caught on the dead cat bounce, or a bull trap as it's commonly known. Image Source: CNBC

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.

Profit Booking in Bitcoin, Ether After Biden Issues Crypto Order

Thoughts on the market on 10.03.2022

After reaching local highs above $42,500, Bitcoin declined and, at the time of writing this review, its trading at $39,397. With a Market capitalization $1.801 Trillion, BTC dominance index of 43.0%, fear index 28.

The price of oil has significantly decreased - Brent is now about $110, a correction of more than $20. The reason for the fall is the news from The United Arab Emirates indicating that it would push the Organization of the Petroleum Exporting Countries to pump more oil as crude prices rocket to near record highs during Russia’s war on Ukraine.

If there are no geopolitical surprises, the US inflation data will move the market today. The forecast for the consumer price index is 7.9%.

With Bitcoin not holding above $41,800, it found support 1000 points lower. As long as it holds above $40,500, the priority option is Bitcoin in the $40,500- $42,500 range. Most likely, the exit from this range will occur at the American session. Alternative option - a correction towards $38,500- $38,000 is possible on an external negative or FUD.

The amount of Bitcoin on exchanges is the lowest since November 2018. Combined with fear and uncertainty in the markets, this is a good factor for significant moves. We also talked about a dead cat bounce or a bull trap yesterday. Evident with this article from @Coindesk: Crypto traders booked profit on a short spike in bitcoin (BTC) and ether (ETH) during the European hours as U.S. President Joe Biden signed a first-of-its-kind executive order on cryptocurrencies. With the weekend coming and the thin volume of BTC in exchanges be sure to look out for significant moves.
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.

Thoughts on the Crypto market: 11.03. 2022

Bitcoin continued to decline to a low of $38,200. At the time of writing this review, Bitcoin is trading for $38,737. Total Crypto Market capitalization of $1.720 Trillion, dominance index 42.4% and fear index 22. The dollar index is $98.5.

Stock markets were down yesterday, Oil has retracted too, now worth 108 (Brent), and gold is below 2000. The data on inflation in the US yesterday came out at the level of the forecast and didn't really surprise anyone. I was surprised by Biden, who blamed Russia for the record inflation since 1982, and said that "families are beginning to feel the consequences of Putin's rise in prices." Fact is, record inflation rates were still in January, and they were clearly achieved without the participation of Russia. There has always been creeping inflation of the dollar, it has accelerated greatly over the past few decades. The Fed's balance sheet has grown from 4.1Trillion to 8.9Trillion.

Inflated corona psychosis with subsequent flooding of it with money was a recipe for severe inflation. The record inflation has now been fuelled by a strong rise in energy prices, which increases costs, slows down the economy, and threatens stagflation.(https://t.me/decryptedge/1044) The European Union says it has reached the limit on sanctions. Russia's retaliatory move - the property of companies that have left the market falls under external management (possibly with subsequent nationalization), debts to the countries that imposed sanctions will be paid in rubles, Russia imposed a ban on the export of grain and sugar, Hungary followed suit . It will be key to watch the prices of wheat in the next couple of months. More global consequences - the world financial system will be strongly reformatted.

Bitcoin, after reaching lows around $38,200, returned above $38,500. To move to growth, it is necessary to fix above $38,800, then above $39,500. Weekend drift above $40K means refueling is over. If Bitcoin fails to consolidate above $38,800 - $39,000 in the next few hours, an update of local lows is likely, in the area of ​​$37,000- $36,800. This option does not change the medium-term prospects for Bitcoin, which are discussed here. (https://t.me/decryptedge/952)
Leaving the weekend above $40K will be good for altcoins.

This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge

Dubai Approves First Law to Regulate Digital Assets, Establishes Regulator to Oversee Crypto Sector as Goldman Sachs Becomes first Wall Street bank to leave Russia.

Dubai has adopted a law on virtual assets. The emirate of Dubai has adopted its first law to regulate crypto assets and established a regulator to oversee crypto activities and regulate crypto service providers. The official Twitter account for Sheikh Mohammed bin Rashid Al Maktoum announced on Wednesday that the first virtual assets law has been approved in Dubai and the Dubai Virtual Assets Regulatory Authority (VARA) has been established.
Sheikh Mohammed commented: The goal [is to] establish the UAE and Dubai’s position as a key player in designing the future of virtual assets globally.

Across The Wall Street stock market saw participants close positions before the weekend (because lately developing geopolitics brings big surprises), this caused a decline in stock indices. Oil closed above $112, the dollar index above 99.

Italian truckers have gone on strike to protest high fuel prices almost doubling. Diesel is now 1.9 EURO, Petrol is 1.95 EURO. A year ago, filling up a full tank of petrol was about 100 euros (1.1 euros per liter. Majority still did not understand how the situation with gas, oil products and fertilizers would affect food products. By May-June the picture will be clear.

There was an attempted dump to drain Bitcoin below $38,500, but the correction was quickly bought out and returned to its original position, at the time of writing this review its trading for $39,100. Total Crypto Market capitalization $1.743 Trillion, BTC Dominance index 42.5%,
Fear index 22.

Strong movements are possible in the stock markets next week. March 15-16 - US Federal Reserve meeting. The main intrigue is how the regulator will behave when the factor of high oil prices and, in the short term, the highest possible food prices, has been added to the record inflation. The expected action is to raise the rate by 0.25 points. Deviation from this expected action, as well as some unexpected comments, will cause strong movements in the markets.
Another significant date is March 18th, there will be quarterly expiration for derivatives on stock indices and on individual shares.

Bitcoin so far shows resistance to external negativity and stubbornly refuses to go below $38,200. Two failed attempts to pass below this level suggest the formation of a support area. Perhaps, on the thin weekend market, a correction to $37,500- 37,000, followed by a buyout, could happen. But if this does not happen, there is a squeeze of price at $38,200- $39,800 range, Bitcoin will clearly leave this range no later than next week .

The priority option for the weekend is Bitcoin in a range with a lower limit of $38,300 - $38,000 and an upper limit of 39900-40200. Going beyond these boundaries in any direction with a high degree of probability will be a false breakdown. For altcoins, it is good to note that the “witch hunt” currently taking place around Russian money on the crypto market, is the probability of an increasing demand for coins that provide increased anonymity (ZEC- $152, XMR- $142, SCRT - $4.9). Current geopolitics accelerates the demand for crypto and brings new people to the market. Goldman Sachs becomes first Wall Street bank to leave Russia. Growing number of major US companies leaving Russia due to invasion of Ukraine. Another American bank is Citigroup filings who had the largest exposure of $9.8bn. Goldman’s exposure was estimated to be $940m. The distance between Russia and western institutions is growing after businesses such as Apple, Google, Visa, Mastercard, McDonald’s, and Starbucks all announced that they are closing their operations in the country.

This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge

Today’s EU #MiCA vote could Ban Exchanges from listing Proof of Work Crypto assets

Thoughts on the market on 14.03. 2022

Bitcoin remained in the range mentioned on Saturday, testing the lower limit of the range last night, a low was set at around $37,500. At the time of this writing Bitcoin is worth $38,727.
Total Crypto Market capitalization at $1.703 Trillion, BTC dominance index of 42.4%, fear index 23. S&P 500 futures are slightly on a positive, oil fell below $110, gold $1,977.
The dollar index is growing and is already approaching 99.3

Today, a meeting of representatives of the United States and China will be held in Rome. The official agenda is the management of competition between the two countries and the impact of the Russian military operation in Ukraine on regional and global security. The geopolitical situation now is truly unique, comparable in significance to the collapse of the socialist camp and the collapse of the USSR in the late 80s and early 90s. The consequences for the global economy and the entire way of life will be comparable. Instagram is now blocked in Russia adding to the growing list of companies imposing sanctions to Russia.

The European Parliament will today vote on the regulation of cryptocurrencies. FUD is accelerating around a ban on cryptocurrency mining, and at the same time to ban cryptocurrencies based on the energy-intensive Proof-of-Work algorithm. That effectively amounts to a ban on the leading cryptocurrency bitcoin and ETH. Earlier this month, the MEP responsible for reporting on MiCA, Dr Stefan Berger, confirmed that the contentious Article 61 paragraph 9c had been removed. Berger, who lists his role in the MiCA committee in his Twitter bio, believes that the regulatory changes will be pioneering in terms of innovation for the crypto markets. Similarly to Biden’s executive order, the MiCA focuses primarily on protecting citizens when investing in crypto assets. The vote to accept the current draft of the legislation and whether to enter into Interinstitutional negotiations. Interinstitutional negotiations involve trilogues which are the last stage before a provisional agreement is made up and the act is then adopted. The regulatory proposals contained in this report are much further reaching than those in Biden’s Executive order, which mainly focused on creating research committees. There certainly seems to be a focus on digital asset regulation in 2022. Will the new legislation be well received by the crypto community? If Bitcoin is banned in Europe, I don't think it will come to that. In the current difficult economic situation for the EU, cutting itself off from advanced financial technologies under some far-fetched pretext is worthy of a Darwin award in the financial sector. But you never know, we are in the 21st century, anything is possible.

So with Bitcoin falling to the lower border of the trading range, and bouncing back, the low price of $34,324 registered on March 7 has not been updated, but there is still a chance to do so.
The priority option for today is Bitcoin in the range with the lower border at $37,500 - $36,900 and the upper border at $38,800 - $39,200.

This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge