The number of crypto coins increased sharply in January. In January 2022, the number of cryptocurrencies existing in the market increased by 1 thousand. This implies that each new project of cryptocurrency coin appeared every 45 minutes. According to CoinMarketCar,…
After bitcoin prices peaked between 2017 and 2018, prices entered a long-term downward trend. Prices, which reached a record high of $20,000 in the final weeks of 2017, entered a downtrend throughout 2018. Prices have fallen as low as $3,000.…
The cryptocurrency market has been showing quite volatile movements in recent days, led by bitcoins (BTC). The growth that began in the first days of February has lifted the market. During this period, many altcoins saw serious gains. After reaching a streak of $45,000, BTC, which began a correction, broke support at $40,000 last week. The outbreak of war between Russia and Ukraine came as a shock to the crypto market. BTC, which had been accumulating around $38,000 for a while, quickly fell to the $34,400 mark after the war began. In the evening it began to rise again, but sales were conducted from the area of $39,800. So what was the main reason for such volatility of Bitcoin in one day? It is known that the decline was caused by the Russian-Ukrainian war. So why was there a rise? According to some experts, the reason for the rise was the statements of U.S. President Joe Biden. Russia, which declared war on Ukraine, faced a weak reaction from Western states. US President Biden said that as the first of the sanctions, the assets of Russian billionaires in US banks were frozen and they would not be able to access this money. Russian billionaires invested in cryptocurrency market to protect their money The reason for U.S. President Joe Biden’s decision to adopt this sanction is said to be “the anticipation that billionaires who want to preserve their capital will put pressure on Putin to stop the war.” However, the billionaires allegedly went the other way, and Biden’s plan was thwarted. Billionaires who were not involved in something like pressuring Putin to stop the war invested in cryptocurrency to protect their money. It has been stated that these billionaires usually invest in Bitcoin. After the aforementioned investments, Bitcoin jumped from the $35,000 range to about $39,000 in a short time. It has been claimed that this is the reason why the market suddenly went up yesterday. The volatile nature of the crypto market has investors nervously standing by and watching the trend. Millions of small investors are currently in a bad position as they invest in coins at a high price. The large number of leveraged positions opened during this period is causing investors to lose money. Many investors wait until the market bottoms before trading. Some investors are waiting for bitcoins to hit the $29,000 streak again. Some users argue that Russian billionaires investing in bitcoin are the reason for the recent rise. Investors who argue that these rapid drops and rises are a “liquidity cleanup,” say leveraged positions have been closed and many investors are staying away. Referring to the fact that those who opened short trades were cleared with the latest rise, users noted that long leveraged trades could be cleared in the same way in the coming days.
Bitcoin and cryptocurrencies are fundamentally necessary for Western countries. This is the opinion of well-known cryptoskeptic David Heinemeyer Hansson, who admitted that his previous statements about the first cryptocurrency were wrong. The developer of Ruby on Rails web framework stated…
Cryptocurrencies market participants (and those who only plan to master this area of investment) are constantly faced with the question of which asset is less risky to invest in. After all, at the beginning of February 2022, there were over…
In an interview with CoinDesk on February 16, Deputy Minister of Digital Transformation of Ukraine Alexander Bornyakov said that Ukraine’s own digital hryvnia may appear as early as the end of 2022 — early 2023. He also said that in…