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
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.
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 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
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
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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…
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…
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
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
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
Elon Musk Says Tesla and Spacex See Significant Inflation Pressure — Confirms He Won't Sell Crypto.
Yesterday Bitcoin remained in the range as was indicated in yesterday's review. Over the past 6 hours, Bitcoin made an attempt to get out of the range unsuccessfully, the price returned to $38,800- $39,200. Bitcoin is now worth $38,970.
Total Crypto Market capitalization $1.734 Trillion, BTC dominance index 42.7%, fear index 21. The price of oil continues to decline and is already below 103 (BRENT), gold at $1945, the dollar index is just below 99.
The fall in oil from previously reached highs above 130 comes despite the failure of the nuclear deal with Iran, and the refusal to cooperate with the United States from Venezuela. It seems the majority of market participants expected further growth, i.e. there was a bullish consensus on the market. Consensus in the market always ends that way, the crowd cannot win. More and more market participants also expect a recession in the global economy. A recession is a drop in demand for oil. Too many non-economic and unpredictable factors that affect the price of oil. Perhaps buying gold and silver at current prices could be a promising idea. Bitcoin can wait but that's our biased view.
Tesla and Spacex CEO Elon Musk confirms this and as reported by @Bitcoinnews, he revealed that his two companies are seeing significant inflation pressure in raw materials and logistics. He advised people to own physical things when inflation is high but stressed he will not sell his cryptocurrencies: bitcoin, ether, and dogecoin. He didn't say buy! He further discussed high inflation in a series of tweets that started Sunday evening. He began by asking his 7.7 million Twitter followers, “What are your thoughts about probable inflation rate over next few years?”
The U.S. inflation rate is at 7.9%, its highest level since 1982. Core inflation (excludes food/energy) which rose to 6.4%, also the highest since 1982. Pro-bitcoin CEO of Microstrategy, Michael Saylor replied to EM, He tweeted: USD consumer inflation will continue near all time highs, and asset inflation will run at double the rate of consumer inflation. Weaker currencies will collapse, and the flight of capital from cash, debt, & value stocks to scarce property like bitcoin will intensify.
Bringing matters home, I concur with @SokoAnalyst a market analysis & research person tweeted “Dear Kenyans, Life just got harder. Fuel went up yesterday. Transport costs have been hiked. Cost of food to go up immediately by not less than 17% #MarketsWatch”
In closing markets are waiting for the Fed meeting, the results of which will be published tomorrow. An increase in the rate by 0.25 is expected, this is already included in the market.
If it increases by 0.5, the markets will fall, if they suddenly do not increase at all, there will be rapid growth. Next key date to watch out for is March 18th - a large expiration of options for both indices and stocks. So the Wednesday-Friday period will be a time of high volatility.
Bitcoin could go out of the range during this period, March 16-18. Exiting a large range, 37K-45K, in which it has been for the last 3 weeks.
The priority option for today is Bitcoin in a range with an upper limit at $39,800- $40,200 and a lower limit at $37,500- $36,900. An alternative option is to fix above $40,200.
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
Yesterday Bitcoin remained in the range as was indicated in yesterday's review. Over the past 6 hours, Bitcoin made an attempt to get out of the range unsuccessfully, the price returned to $38,800- $39,200. Bitcoin is now worth $38,970.
Total Crypto Market capitalization $1.734 Trillion, BTC dominance index 42.7%, fear index 21. The price of oil continues to decline and is already below 103 (BRENT), gold at $1945, the dollar index is just below 99.
The fall in oil from previously reached highs above 130 comes despite the failure of the nuclear deal with Iran, and the refusal to cooperate with the United States from Venezuela. It seems the majority of market participants expected further growth, i.e. there was a bullish consensus on the market. Consensus in the market always ends that way, the crowd cannot win. More and more market participants also expect a recession in the global economy. A recession is a drop in demand for oil. Too many non-economic and unpredictable factors that affect the price of oil. Perhaps buying gold and silver at current prices could be a promising idea. Bitcoin can wait but that's our biased view.
Tesla and Spacex CEO Elon Musk confirms this and as reported by @Bitcoinnews, he revealed that his two companies are seeing significant inflation pressure in raw materials and logistics. He advised people to own physical things when inflation is high but stressed he will not sell his cryptocurrencies: bitcoin, ether, and dogecoin. He didn't say buy! He further discussed high inflation in a series of tweets that started Sunday evening. He began by asking his 7.7 million Twitter followers, “What are your thoughts about probable inflation rate over next few years?”
The U.S. inflation rate is at 7.9%, its highest level since 1982. Core inflation (excludes food/energy) which rose to 6.4%, also the highest since 1982. Pro-bitcoin CEO of Microstrategy, Michael Saylor replied to EM, He tweeted: USD consumer inflation will continue near all time highs, and asset inflation will run at double the rate of consumer inflation. Weaker currencies will collapse, and the flight of capital from cash, debt, & value stocks to scarce property like bitcoin will intensify.
Bringing matters home, I concur with @SokoAnalyst a market analysis & research person tweeted “Dear Kenyans, Life just got harder. Fuel went up yesterday. Transport costs have been hiked. Cost of food to go up immediately by not less than 17% #MarketsWatch”
In closing markets are waiting for the Fed meeting, the results of which will be published tomorrow. An increase in the rate by 0.25 is expected, this is already included in the market.
If it increases by 0.5, the markets will fall, if they suddenly do not increase at all, there will be rapid growth. Next key date to watch out for is March 18th - a large expiration of options for both indices and stocks. So the Wednesday-Friday period will be a time of high volatility.
Bitcoin could go out of the range during this period, March 16-18. Exiting a large range, 37K-45K, in which it has been for the last 3 weeks.
The priority option for today is Bitcoin in a range with an upper limit at $39,800- $40,200 and a lower limit at $37,500- $36,900. An alternative option is to fix above $40,200.
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
FTX Europe Becomes First Exchange to Receive Crypto License in Dubai, as Much Awaited on FED’s Meeting.
Thoughts on the market on 16.03.2022
Bitcoin moved within the range indicated in yesterday's review (https://t.me/decryptedge/1053). This morning, the price updated to a high of 41800, and at the time of writing this review it is worth $40,960.
Total Crypto Market capitalization $1.801 Trillion, BTC dominance index of 42.2%, fear index 24.
The dollar index fell to 98.8. The markets are calm, before the storm. Today at 9:00PM Kenya time the results of the Fed meeting will be released, at 9:30PM - Jerome Powell's conference.
Friday, March 18 - there is a big option expiration. So from tonight until the end of the week we expect increased volatility in the stock market and crypto market.
Negative for the market will be an increase in the rate by 0.5 instead of 0.25, aggressive comments about further tightening of the monetary policy, as well as a reduction in the balance sheet. The positive is the absence of this negative. It is difficult to predict the actions of the Fed, because the regulator is now facing a problem that cannot be solved by economic methods.
Until the Fed's decision, Bitcoin will remain in a wide range with an upper limit at $39,800 - $40,200, and a lower limit at $37,500- $36,900. An alternative option is fixing above 40200 for 6-8 hours.
Because in a situation of growing global inflation and geopolitical turbulence, counting on the fall of the anti-inflationary asset itself is strange and illogical. This does not mean that Bitcoin cannot fall in the short term. With an unfavorable external background, we can go to $35K and test the absolute bottom of the $28K- $32K range.(https://t.me/decryptedge/952) we spoke about it back on January 12th.
Lastly FTX Europe, the newly established European unit of crypto exchange FTX, became the first firm to receive a license to operate a crypto exchange and trading house in Dubai. With the license the exchange will be able to trial crypto derivatives for institutional investors. The license comes a week after Dubai announced the creation of Virtual Asset Regulatory Authority (VARA), which will be responsible for governing the crypto sector. FTX rival Binance received a license to operate in Bahrain effectively expanding its middle eastern presence. Binance is also reported to be in talks to obtain a Dubai license. Image/Story Source Courtesy: Coindesk.
This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
Thoughts on the market on 16.03.2022
Bitcoin moved within the range indicated in yesterday's review (https://t.me/decryptedge/1053). This morning, the price updated to a high of 41800, and at the time of writing this review it is worth $40,960.
Total Crypto Market capitalization $1.801 Trillion, BTC dominance index of 42.2%, fear index 24.
The dollar index fell to 98.8. The markets are calm, before the storm. Today at 9:00PM Kenya time the results of the Fed meeting will be released, at 9:30PM - Jerome Powell's conference.
Friday, March 18 - there is a big option expiration. So from tonight until the end of the week we expect increased volatility in the stock market and crypto market.
Negative for the market will be an increase in the rate by 0.5 instead of 0.25, aggressive comments about further tightening of the monetary policy, as well as a reduction in the balance sheet. The positive is the absence of this negative. It is difficult to predict the actions of the Fed, because the regulator is now facing a problem that cannot be solved by economic methods.
Until the Fed's decision, Bitcoin will remain in a wide range with an upper limit at $39,800 - $40,200, and a lower limit at $37,500- $36,900. An alternative option is fixing above 40200 for 6-8 hours.
Because in a situation of growing global inflation and geopolitical turbulence, counting on the fall of the anti-inflationary asset itself is strange and illogical. This does not mean that Bitcoin cannot fall in the short term. With an unfavorable external background, we can go to $35K and test the absolute bottom of the $28K- $32K range.(https://t.me/decryptedge/952) we spoke about it back on January 12th.
Lastly FTX Europe, the newly established European unit of crypto exchange FTX, became the first firm to receive a license to operate a crypto exchange and trading house in Dubai. With the license the exchange will be able to trial crypto derivatives for institutional investors. The license comes a week after Dubai announced the creation of Virtual Asset Regulatory Authority (VARA), which will be responsible for governing the crypto sector. FTX rival Binance received a license to operate in Bahrain effectively expanding its middle eastern presence. Binance is also reported to be in talks to obtain a Dubai license. Image/Story Source Courtesy: Coindesk.
This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
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Elon Musk Says Tesla and Spacex See Significant Inflation Pressure — Confirms He Won't Sell Crypto.
Yesterday Bitcoin remained in the range as was indicated in yesterday's review. Over the past 6 hours, Bitcoin made an attempt to get out of the range unsuccessfully…
Yesterday Bitcoin remained in the range as was indicated in yesterday's review. Over the past 6 hours, Bitcoin made an attempt to get out of the range unsuccessfully…
Ukraine's Zelenskyy Signs Virtual Assets Bill Into Law, Legalizing Crypto as Digital Donations Flow In.
Thoughts on the market on 17. 03. 2022
Market capitalization $1.822 Trillion, BTC dominance index 42.8%, fear index 27. The dollar index has fallen to 98.3
The Fed meeting and subsequent comments did not bring any surprises played out as the markets expected. As indicated in yesterday's review, the Fed's stance resulted in a positive for the markets with the absence of negativity. Market participants realized that in terms of fighting inflation, the regulator would take a minimum of practical steps - just enough so as not to be accused of inaction.
Tomorrow we expect a large expiration of options for stocks and indices, and increased volatility.
Bitcoin has consolidated above $40K, but has encountered a resistance area at $41,400- $41500, two attempts to break this level have not been successful so far.
The priority option for today is Bitcoin fixing above $41,500, after which the next important resistance area will be $41,800- $42,500. An alternative option is Bitcoin in the range of $39,200 - $41,400.
I said earlier that for the further growth of the market, it is important to consolidate the total crypto-market capitalization above $2 Trillion. If we leave for the weekend with Bitcoin above $42,500, this result could be reached before Monday.
Ukrainian President Volodymyr Zelenskyy legalized crypto in his country, by signing into law a bill on virtual assets, amid a frenzy of digital asset donations to support the country's defense against a Russian invasion. A month ago, Ukraine’s parliament passed a bill to legalize cryptocurrency, preparing a framework for the regulation and management of cryptocurrencies like Bitcoin and Ethereum. This will establish a legal framework for the country to operate a regulated crypto market. So far Ukraine has received $100 million in crypto donations during its war with Russia. According to reports coming out of Cointelegraph, Coindesk and other digital asset-focused outlets, crypto exchanges and firms handling digital assets will now be required to register with the government to operate legally in Ukraine, and banks will be allowed to open accounts for crypto firms.
The bill passed through parliament on Feb. 17 after Zelensky rejected an earlier version approved in September 2021. (https://t.me/decryptedge/730) The Ministry of Finance is working on amendments to the country's tax and civil codes to fully launch the market for virtual assets, the statement said.
This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
Thoughts on the market on 17. 03. 2022
Market capitalization $1.822 Trillion, BTC dominance index 42.8%, fear index 27. The dollar index has fallen to 98.3
The Fed meeting and subsequent comments did not bring any surprises played out as the markets expected. As indicated in yesterday's review, the Fed's stance resulted in a positive for the markets with the absence of negativity. Market participants realized that in terms of fighting inflation, the regulator would take a minimum of practical steps - just enough so as not to be accused of inaction.
Tomorrow we expect a large expiration of options for stocks and indices, and increased volatility.
Bitcoin has consolidated above $40K, but has encountered a resistance area at $41,400- $41500, two attempts to break this level have not been successful so far.
The priority option for today is Bitcoin fixing above $41,500, after which the next important resistance area will be $41,800- $42,500. An alternative option is Bitcoin in the range of $39,200 - $41,400.
I said earlier that for the further growth of the market, it is important to consolidate the total crypto-market capitalization above $2 Trillion. If we leave for the weekend with Bitcoin above $42,500, this result could be reached before Monday.
Ukrainian President Volodymyr Zelenskyy legalized crypto in his country, by signing into law a bill on virtual assets, amid a frenzy of digital asset donations to support the country's defense against a Russian invasion. A month ago, Ukraine’s parliament passed a bill to legalize cryptocurrency, preparing a framework for the regulation and management of cryptocurrencies like Bitcoin and Ethereum. This will establish a legal framework for the country to operate a regulated crypto market. So far Ukraine has received $100 million in crypto donations during its war with Russia. According to reports coming out of Cointelegraph, Coindesk and other digital asset-focused outlets, crypto exchanges and firms handling digital assets will now be required to register with the government to operate legally in Ukraine, and banks will be allowed to open accounts for crypto firms.
The bill passed through parliament on Feb. 17 after Zelensky rejected an earlier version approved in September 2021. (https://t.me/decryptedge/730) The Ministry of Finance is working on amendments to the country's tax and civil codes to fully launch the market for virtual assets, the statement said.
This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
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Too risky? Or worth a try? #Elsalvador is the 1st country to make #bitcoin legal tender. Here's a smart piece from @RafaelRomoCNN on why El Salvador thinks this is one way to alleviate poverty. Crypto Jobs on Offer Too.
Thoughts on the market 07.09.2021…
Thoughts on the market 07.09.2021…
Elizabeth Warren Introduces Crypto Bill to Sanction Russia.
Thoughts on the market on 18. 03. 2022
Bitcoin, after another unsuccessful attempt to stay above $41K, fell to support at $40,500, at the time of writing its trading for $40,530. Today’s total crypto market capitalization is at $1.815 Trillion, BTC dominance index 42.4%, fear index 25.
The dollar index is about 98.
Today in the US market there is a large expiration of options on indices and on individual stocks, which will cause increased volatility, as the expiration will be at $3.3 Trillion. In addition, as witnessed in recent times, many market participants prefer to close positions for the weekend, as the geopolitical situation is now such that over the weekend the world may find itself in a new reality.
Bitcoin fell to support at $40,500, loss of this support could give Bitcoin another refueling below $40K, where areas for liquidity gains would be $39,300 - $38,800, and in case it goes below, $38,000 - $37,500 will be the levels to expect. If the support at $40,500 holds, expect movement in the $40,500 - $41,500 range.
Senator Elizabeth Warren will submit a bill on bitcoin sanctions against Russia. It is proposed to ban crypto-exchanges from working with any crypto-assets associated with Russia and those exchanges that do not agree will be subject to secondary sanctions. The bill, dubbed as Digital Asset Sanctions Compliance Act, which is authored by Senator Elizabeth Warren and ten other sponsors, aims to stop Russian President Vladimir Putin and his allies from using cryptocurrencies. This goes against the ideology and ethos of Cryptocurrencies more so Bitcoin. If this bill goes through it will be contrary to neutrality, censorship resistant and decentralized.
Major crypto exchanges like Coinbase and Kraken have already stated that they would not implement the bill unless it becomes a law. Furthermore, most of the Biden administration’s officials have already declared that they do not think Russia could evade sanctions by using digital currency as its market lacks liquidity to allow high-volume business dealings. Factually we wrote here that, this is only 0.3% of the global net worth in crypto (https://t.me/decryptedge/1040)
Nonetheless, the U.S. Treasury Department declared that crypto firms must follow the sanctions as the law requires it. This is to publicly identify the crypto trading platforms abroad that are most likely to evade sanctions and money laundering. Moreover, this is also to report any taxpayers in the U.S. that engage in any offshore crypto transaction worth more than $10,000.
Wishing you a blessed weekend ahead and remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
Thoughts on the market on 18. 03. 2022
Bitcoin, after another unsuccessful attempt to stay above $41K, fell to support at $40,500, at the time of writing its trading for $40,530. Today’s total crypto market capitalization is at $1.815 Trillion, BTC dominance index 42.4%, fear index 25.
The dollar index is about 98.
Today in the US market there is a large expiration of options on indices and on individual stocks, which will cause increased volatility, as the expiration will be at $3.3 Trillion. In addition, as witnessed in recent times, many market participants prefer to close positions for the weekend, as the geopolitical situation is now such that over the weekend the world may find itself in a new reality.
Bitcoin fell to support at $40,500, loss of this support could give Bitcoin another refueling below $40K, where areas for liquidity gains would be $39,300 - $38,800, and in case it goes below, $38,000 - $37,500 will be the levels to expect. If the support at $40,500 holds, expect movement in the $40,500 - $41,500 range.
Senator Elizabeth Warren will submit a bill on bitcoin sanctions against Russia. It is proposed to ban crypto-exchanges from working with any crypto-assets associated with Russia and those exchanges that do not agree will be subject to secondary sanctions. The bill, dubbed as Digital Asset Sanctions Compliance Act, which is authored by Senator Elizabeth Warren and ten other sponsors, aims to stop Russian President Vladimir Putin and his allies from using cryptocurrencies. This goes against the ideology and ethos of Cryptocurrencies more so Bitcoin. If this bill goes through it will be contrary to neutrality, censorship resistant and decentralized.
Major crypto exchanges like Coinbase and Kraken have already stated that they would not implement the bill unless it becomes a law. Furthermore, most of the Biden administration’s officials have already declared that they do not think Russia could evade sanctions by using digital currency as its market lacks liquidity to allow high-volume business dealings. Factually we wrote here that, this is only 0.3% of the global net worth in crypto (https://t.me/decryptedge/1040)
Nonetheless, the U.S. Treasury Department declared that crypto firms must follow the sanctions as the law requires it. This is to publicly identify the crypto trading platforms abroad that are most likely to evade sanctions and money laundering. Moreover, this is also to report any taxpayers in the U.S. that engage in any offshore crypto transaction worth more than $10,000.
Wishing you a blessed weekend ahead and remember you must always do your own research. This is not traditional investment or financial advice. #Decryptedge.
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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…
With all the factors considered and that ensured the growth of Bitcoin last week, that is a significant part of Russian money and…
The Calm Before the Storm, or Just a Passing Cloud.
Thoughts on the market on 19. 03. 2022
Bitcoin's attempt to pass through the resistance area at $42,000 was unsuccessful; at the time of writing the review, Bitcoin is trading at $41,670. Total Crypto Market capitalization $1.880 Trillion, BTC dominance index 42.1% and fear index of 28.
The stock markets were up yesterday, contrary to our expectation. Oil closed above 107, dollar index at 98.2 This means that the significance of the geopolitical factor is decreasing, apparently, market participants believe that the worst that could happen has already happened, and the situation can only improve further.
Bitcoin stubbornly gnaws through the resistance area $41,800- $42,600. The first attempt ended with a pullback from $42,320, now more than 12 hours Bitcoin is consolidating around $41,700 - $41,800. Fixing above 42600 will provide the basis for achieving the Market capitalization above 2 Trillion and Bitcoin hitting $45K. In that case expect Bitcoin above $50K in a matter of a very short time. If Bitcoin does not consolidate above $42,600, but remains in the range with the lower boundary of $41,500- $41,700 and the upper boundary of $42,300- $42,600, we will see a good growth of altcoins. You may find some good trading prospects with FTT.(FTX Token) and LINK.
The second option is a priority for the weekend, and the first - next week. But this won't last long. Lest we forget: With an unfavorable external background, we can go to $35K and test the absolute bottom of the $28K- $32K range.(https://t.me/decryptedge/952) we spoke about it back on January 12th.
This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
Thoughts on the market on 19. 03. 2022
Bitcoin's attempt to pass through the resistance area at $42,000 was unsuccessful; at the time of writing the review, Bitcoin is trading at $41,670. Total Crypto Market capitalization $1.880 Trillion, BTC dominance index 42.1% and fear index of 28.
The stock markets were up yesterday, contrary to our expectation. Oil closed above 107, dollar index at 98.2 This means that the significance of the geopolitical factor is decreasing, apparently, market participants believe that the worst that could happen has already happened, and the situation can only improve further.
Bitcoin stubbornly gnaws through the resistance area $41,800- $42,600. The first attempt ended with a pullback from $42,320, now more than 12 hours Bitcoin is consolidating around $41,700 - $41,800. Fixing above 42600 will provide the basis for achieving the Market capitalization above 2 Trillion and Bitcoin hitting $45K. In that case expect Bitcoin above $50K in a matter of a very short time. If Bitcoin does not consolidate above $42,600, but remains in the range with the lower boundary of $41,500- $41,700 and the upper boundary of $42,300- $42,600, we will see a good growth of altcoins. You may find some good trading prospects with FTT.(FTX Token) and LINK.
The second option is a priority for the weekend, and the first - next week. But this won't last long. Lest we forget: With an unfavorable external background, we can go to $35K and test the absolute bottom of the $28K- $32K range.(https://t.me/decryptedge/952) we spoke about it back on January 12th.
This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
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Most participants in the crypto market expect a rise in the value of crypto assets. The rationale for such a positive expectation is contrary to the background news that the Fed will raise rates. Resulting in the stock market fall and Bitcoin has a correlation…
Thoughts on the market on 21. 03. 2022
Bitcoin predictably failed to overcome the resistance area of $41,800- $42,600 over the weekend, and rolled back to support at $40,500. At the time of writing this review, Bitcoin is worth $40,875.
Total Market capitalization is $1.852 Trillion, BTC Dominance index of 42.1%,
Fear index 30.
Powell's performance today (5:00PM East Africa Time) is to watch. This is on the weekly release containing daily rates of exchange of major currencies against the U.S. dollar. The data are noon buying rates in New York for cable transfers payable in the listed currencies. This could affect the market if something unexpected is said. So far, the expected and minimal rate increase in the US has not had a negative impact on the market, since the real rate (adjusted for inflation) is in a deep negative zone.
In addition, European money is also flowing into the American market. They are fleeing because very difficult times are brewing in the EU. The Producer Price Index (PPI) rose to double digits over the year, indicating strong inflation. Considering that anti-Russian sanctions will hit Europe the hardest, since economic ties with the United States have already been at a minimum in recent years, the rise in prices for raw materials, energy, food, supply reduction due to a break in supply chains will accelerate inflation in Europe even more. stronger.
With further development of events - Bitcoin still maintains the range of $40,500 - $42,500, with further attempts to consolidate above $42,600, chances for this are slimming. The other option is a departure below $40,500 with a possible test of the resistance area at $39,300 - $38,800 is an alternative option and our bias take.
The SEC v. Ripple's lawsuit is currently waiting for a court decision on the SEC’s motion for reconsideration. Lots of expectations which could result in a potential major trigger for the next price moves in the XRP market. The digital asset’s market performance has disappointed many, who believe the court case has caused hesitancy in XRP adoption within the industry. Most XRP holders and investors may have also refrained from buying or doubling down on their holdings. The delisting of XRP at Coinbase and many other US exchanges also took its toll.
American economist and investment strategist Lyn Alden last week said that the central banks of different countries will soon become interested in Bitcoin as an asset for storing reserves that cannot be blocked. “As soon as sovereign wealth funds pay attention to bitcoin, the Central Bank will soon become interested in it.” There is logic in this - after the reserves of the Central Bank of Russia were stolen, and before that, an equally sad story happened to the reserves of Afghanistan, any sane Central Bank will reduce reserves in dollars and euros. Alden added that the more bitcoin spreads, the more liquidity it has. This means that more often central banks will consider it as a viable mutual reserve asset. Firstly, it cannot be blocked by a third party unilaterally, and secondly, with the help of bitcoin, you can bypass sanctions and carry out international transactions.
Analysts at the financial company Deloitte are also of the opinion that the Central Bank will use bitcoin. They argue that BTC can become a benchmark for the global development of central banks' own digital currencies. The FBI from the recent past have emphasized that the US has vast experience in tracking cryptocurrencies, and Russia will not be able to use them to circumvent sanctions. The Senator from Massachusetts also submitted a bill to Congress blocking the ability to fight anti-Russian sanctions with the help of crypto assets.
This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
Bitcoin predictably failed to overcome the resistance area of $41,800- $42,600 over the weekend, and rolled back to support at $40,500. At the time of writing this review, Bitcoin is worth $40,875.
Total Market capitalization is $1.852 Trillion, BTC Dominance index of 42.1%,
Fear index 30.
Powell's performance today (5:00PM East Africa Time) is to watch. This is on the weekly release containing daily rates of exchange of major currencies against the U.S. dollar. The data are noon buying rates in New York for cable transfers payable in the listed currencies. This could affect the market if something unexpected is said. So far, the expected and minimal rate increase in the US has not had a negative impact on the market, since the real rate (adjusted for inflation) is in a deep negative zone.
In addition, European money is also flowing into the American market. They are fleeing because very difficult times are brewing in the EU. The Producer Price Index (PPI) rose to double digits over the year, indicating strong inflation. Considering that anti-Russian sanctions will hit Europe the hardest, since economic ties with the United States have already been at a minimum in recent years, the rise in prices for raw materials, energy, food, supply reduction due to a break in supply chains will accelerate inflation in Europe even more. stronger.
With further development of events - Bitcoin still maintains the range of $40,500 - $42,500, with further attempts to consolidate above $42,600, chances for this are slimming. The other option is a departure below $40,500 with a possible test of the resistance area at $39,300 - $38,800 is an alternative option and our bias take.
The SEC v. Ripple's lawsuit is currently waiting for a court decision on the SEC’s motion for reconsideration. Lots of expectations which could result in a potential major trigger for the next price moves in the XRP market. The digital asset’s market performance has disappointed many, who believe the court case has caused hesitancy in XRP adoption within the industry. Most XRP holders and investors may have also refrained from buying or doubling down on their holdings. The delisting of XRP at Coinbase and many other US exchanges also took its toll.
American economist and investment strategist Lyn Alden last week said that the central banks of different countries will soon become interested in Bitcoin as an asset for storing reserves that cannot be blocked. “As soon as sovereign wealth funds pay attention to bitcoin, the Central Bank will soon become interested in it.” There is logic in this - after the reserves of the Central Bank of Russia were stolen, and before that, an equally sad story happened to the reserves of Afghanistan, any sane Central Bank will reduce reserves in dollars and euros. Alden added that the more bitcoin spreads, the more liquidity it has. This means that more often central banks will consider it as a viable mutual reserve asset. Firstly, it cannot be blocked by a third party unilaterally, and secondly, with the help of bitcoin, you can bypass sanctions and carry out international transactions.
Analysts at the financial company Deloitte are also of the opinion that the Central Bank will use bitcoin. They argue that BTC can become a benchmark for the global development of central banks' own digital currencies. The FBI from the recent past have emphasized that the US has vast experience in tracking cryptocurrencies, and Russia will not be able to use them to circumvent sanctions. The Senator from Massachusetts also submitted a bill to Congress blocking the ability to fight anti-Russian sanctions with the help of crypto assets.
This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
Crypto users in Africa grew by 2,500% in 2021: Nairobi Leads with 64% in EA. KuCoin Report
Thoughts on the market on 22. 03. 2022
Bitcoin worked out a variant of yesterday's review most of the time remaining in the range of $40,750 - $41,300.This morning it moved to growth to a high of $43,337
Total Crypto Market cap of $1.901, BTC dominance index of 41.8%, fear index 26.
Oil is now rising, already at $118. The dollar index is rising, now 98.6. The rise in oil is taking place against the backdrop of discussions about the idea of an oil embargo for Russia. Not the smartest thing to do with oil above 110, record food prices, rising inflation and protests over fuel prices.
For further Bitcoin’s growth, it is necessary to consolidate above $42,600. I think that this is a priority option for today. If this option is worked out, we will see the long-awaited capitalization above $2 Trillion, and the next target for Bitcoin will be fixing above 45K. Alternative option - Bitcoin in the range of $42600- $40,500. Against the background of Bitcoin, altcoins are growing in the range and the dominance index is falling.
According to a Kucoin exchange report, the number of crypto users in Africa in 2021 increased by 2500%. The report cites that “more than 88.5% of cryptocurrency transactions made by Africans are cross-border transfers.” Low fees mean that “users pay less than 0.01% of the overall amount of the transaction transferred in cryptocurrencies.” From high inflation levels and swelling smartphone penetration — effectively allowing anyone to become their own bank —
Africa also has a young and digitally native population that is accustomed to digital currencies. Africa is a robust testing ground for the problems which cryptocurrencies attempt to solve. Johnny Lyu, CEO of KuCoin did add a note of caution to the staggering growth levels: “That rate of growth can depend on both local policy-makers and separate officials’ stances on cryptocurrencies. Still, I believe that a promising future for digital money in Africa is inevitable.”
The reports noted that Cape Town and Lagos are the powerhouses of the digitization process in Africa. It reads, “Cairo, Cape Town and Lagos can be considered the engines of the digitization process in the region. Kenya is a separate area of focus in East Africa, with the number of cryptocurrency transactions in Nairobi — its capital — being 64% higher than in the rest of the region.”
This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge
Thoughts on the market on 22. 03. 2022
Bitcoin worked out a variant of yesterday's review most of the time remaining in the range of $40,750 - $41,300.This morning it moved to growth to a high of $43,337
Total Crypto Market cap of $1.901, BTC dominance index of 41.8%, fear index 26.
Oil is now rising, already at $118. The dollar index is rising, now 98.6. The rise in oil is taking place against the backdrop of discussions about the idea of an oil embargo for Russia. Not the smartest thing to do with oil above 110, record food prices, rising inflation and protests over fuel prices.
For further Bitcoin’s growth, it is necessary to consolidate above $42,600. I think that this is a priority option for today. If this option is worked out, we will see the long-awaited capitalization above $2 Trillion, and the next target for Bitcoin will be fixing above 45K. Alternative option - Bitcoin in the range of $42600- $40,500. Against the background of Bitcoin, altcoins are growing in the range and the dominance index is falling.
According to a Kucoin exchange report, the number of crypto users in Africa in 2021 increased by 2500%. The report cites that “more than 88.5% of cryptocurrency transactions made by Africans are cross-border transfers.” Low fees mean that “users pay less than 0.01% of the overall amount of the transaction transferred in cryptocurrencies.” From high inflation levels and swelling smartphone penetration — effectively allowing anyone to become their own bank —
Africa also has a young and digitally native population that is accustomed to digital currencies. Africa is a robust testing ground for the problems which cryptocurrencies attempt to solve. Johnny Lyu, CEO of KuCoin did add a note of caution to the staggering growth levels: “That rate of growth can depend on both local policy-makers and separate officials’ stances on cryptocurrencies. Still, I believe that a promising future for digital money in Africa is inevitable.”
The reports noted that Cape Town and Lagos are the powerhouses of the digitization process in Africa. It reads, “Cairo, Cape Town and Lagos can be considered the engines of the digitization process in the region. Kenya is a separate area of focus in East Africa, with the number of cryptocurrency transactions in Nairobi — its capital — being 64% higher than in the rest of the region.”
This is not traditional investment advice, and ought not to be considered as financial recommendation. Must always do your own research. #decryptedge