- US President Joe Biden will sign a decree regulating the digital assets. Bloomberg writes about this citing informed sources. The document will instruct federal agencies to study potential changes in legislation, as well as the impact of cryptocurrencies on national security and economy. Analysts believe that the decree was the result of fears that organizations and individuals could use digital assets to circumvent sanctions against Russia due to military actions in Ukraine.
- The sanctions imposed by the world community against Russia can cause a rapid increase in the price of bitcoin. This was stated by legendary billionaire investor and founder of Miller Value Partners Bill Miller in an interview with CNBC.
“Russia keeps 16% of its reserves, which are estimated at $640 billion, in dollars, and 32% in euros. Almost 50% of its reserves are held in currencies controlled by people who want to harm it. This is not the best situation, from Russia's point of view," Miller said.
The billionaire called the current geopolitical situation “unique” and emphasized that this is an “extremely bullish signal” for bitcoin. He also believes that the Russian government may try to use digital gold as a reserve currency.
- Well-known businessman and writer, author of the book “Rich Dad Poor Dad”, Robert Kiyosaki accused Joe Biden of “destroying the dollar” and gave people advice on how to fend off inflation.
“Biden likes inflation,” he said. “In response to his criminal actions, I am investing in oil companies from Texas and North Dakota. I have just purchased a gold mine in Utah. I buy apartments and houses in Texas. I am saving gold, silver and bitcoins...” “Invest like a capitalist,” Kiyosaki summed up.
- The world of digital assets has been recently stirred up by the news that the journalist of the authoritative American magazine Forbes, Laura Shin, released the book “The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze”. The author shows the cryptocurrency market as it really is in this book. The writer focuses on the large-scale struggle of the rich for influence and leadership in the coming revolution in the “new money” industry.
Shin introduces readers to prominent figures in the digital space, such as Vitalik Buterin, Web3 prodigy, Charles Hoskinson, and Joe Labin (a former Goldman Sachs vice president who became one of the most famous cryptocurrency billionaires). “Sparks fly as these prominent personalities fight for their place in what seems to be a limitless new business world,” the author writes, describing the “crypto clans” confrontation.
- According to analysts from IntoTheBlock, the correlation between bitcoin and precious metals has fallen to its lowest level since August 2021. Thus, it has reached a 7-month low in relation to gold and silver. Experts believe that these changes have occurred against the backdrop of a military operation that Russia is conducting on the territory of Ukraine. Bitcoin is highly correlated with the traditional stock market while commodity prices continue to rise.
According to experts, indicators that assess the return on an asset and the degree of risk demonstrate how much better precious metals have reacted to the resulting volatility compared to the flagship cryptocurrency.
The experts have also noted that the majority of bitcoin holders (57%) have not been affected by the recent price fluctuations of the coin. Many holders keep their virtual assets for more than a year, which means they still have positive returns.
- A cryptanalyst known as Dave the Wave stated In May 2021 that bitcoin will not be able to rise to the level of $100,000 before the end of the year. He turned out to be right. His forecast looks somewhat more optimistic now. According to it, the price of the main cryptocurrency should update its historical maximum in 2022.
Dave the Wave has published the BTC price chart and explained that despite bitcoin falling below $40,000, it is still on its way to $100,000. Against the background of the collapse of the global market, the coin has a chance for a steady rebound from the $36,000 mark. However, the analyst does not rule out that the bitcoin rate may fall to $25,000 before it goes up.
- Well-known crypto analyst and trader Michael van de Poppe believes that bitcoin may continue its fall to $30,000 against the backdrop of geopolitical tensions in Eastern Europe. "Why?" he asks. And he answers: “Because of a short-term panic. You should understand that traders are people who are focused on the short term, are very impulsive, emotional, and this is what the markets reflect.” At the same time, Michael van de Popp notes that the current recession is a good opportunity for those who are still optimistic about the first cryptocurrency to replenish its reserves.
As for the altcoins led by ethereum, according to the trader, they are under strong selling pressure in the current situation, which could push them further down until the ethereum reaches the $2,000 mark.
- Kimbal Musk, younger brother of billionaire Elon Musk, said in a recent interview that the main problem with digital currencies is their impact on the environment. Therefore, they are doomed to failure in the form in which crypto assets currently exist. The planet will face an ecological crisis if humanity does not figure out how to make them safer for nature.
Kimbal Musk not only sits on the board of directors of Tesla and SpaceX, but also runs The Kitchen, a chain of “green” restaurants, and is the founder of Big Green DAO, a “decentralized charity” project. The businessman's net worth exceeds $700 million.
- Anthony Scaramucci, founder of SkyBridge Capital and former White House Communications Director, believes that any investor should invest at least a little of their capital in bitcoin. The businessman stated in an interview with Magnifi that investors should buy BTC even if they have never worked with cryptocurrencies before. According to Scaramucci, cold-blooded holders who know how to wait will benefit in the future. He is confident that bitcoin is guaranteed to reach $100,000 in a couple of years. The entrepreneur stores about $1 billion in bitcoins at the moment.
The former White House communications director is confident that the United States will not seek to tighten regulation of cryptocurrencies: “I don’t think the US wants to lose leadership in financial services. If they decide to ban or over-regulate digital currencies, we will see capital flight and brain flight out of the country.”
- “The scaling up of bitcoin is accelerating the process of building a new financial system. We have witnessed a global evolution of the payment infrastructure,” said Zoltan Pozar, strategist at Credit Suisse. In his opinion, the structure that was formed after the Second World War is gradually being destroyed, and geopolitical tensions have only accelerated this process. While it is difficult to say in what direction the global economy will develop, however, according to the Credit Suisse strategist, bitcoin has a very good chance of becoming the main payment instrument.
- A similar point of view is shared by billionaire and CEO of Galaxy Digital Mike Novogratz, according to whom bitcoin and gold will become the safest assets in the near future. “You can put an equal sign between these two instruments and stop the discussion about what is more important, BTC or precious metals,” Novogratz said.
Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.
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