RUSSIA INVADES UKRAINE WHAT THAT MEANS FOR CRYPTOCURRENCY

Yesterday we did a brief refresher on cryptocurrency and today we’re tapping into what the markets are doing and have been doing all year long.

BTC hit an all time high in April 2021 when it soared to $69K, and in November 2021 it got up to $68K. As of today, it’s at $39K but don’t let that price worry you! There’s always a certain amount of volatility that comes with war, and with cryptocurrency being an extremely volatile asset anyway, things could seem pretty shaky right now but fear not!

Immediately after the Russian invasion, investors dumped some of their assets and I don’t know for sure but I can just imagine that as risky as it can be, crypto assets were probably the first assets to get dumped, because I saw where BTC dropped to $35K and ETH went down to $2,400 during the first days of the war.

It wasn’t just cryptocurrencies that took a hit, European stocks fell too as well as the SPX500 and others. Despite the riskier assets selling off, I saw where the traditional ‘safe place’ commodities like gold and silver held their value and even the US Dollar held strong for a bit. In the market we know that if the price of gold is going up then the US Dollar is down, and if the USD is up then gold is down (bearish momentum).

Just before I edited this post I traded gold simply because I checked the live charts and saw the USD with one bar (rather than 6 bars which indicates a strong currency). Because the USD had one bar (that indicates a weak dollar) then gold was going to be strong, going up (bullish momentum), so that was a good time for me to enter a quick 3 minute bullish trade and profit in 3 minutes.

OK that was a quick lesson on trading commodities, let’s get back to crypto! War or not, digital assets are becoming more widely adopted with even Goldman Sachs saying that BTC will compete with gold as a store of value. Store of value is any commodity, currency, or asset that can be saved/stored, retrieved or exchanged without deteriorating in value.

Doesn’t that put a smile on your face knowing that institutional investors are linking gold and BTC in the same sentence? Get BTC and hold it, your smile will get bigger as your digital assets grow. Crypto has come a long way in just 13 years. It rose from obscurity to the point where retail investors were jumping in and out of the market causing wild movement, to now… large institutional investors are moving into the space as well. Right now it’s more of a trickle than a deluge but I’m telling you that the deluge will come because these banks recognize the digital shift that has occurred and they do not want to be left in the dust (although I believe many will be).

In the meantime, get yours baby! And hold on to it as you watch it grow! More on this tomorrow!

Copyright ©2022 Sherma Jacqueline Felix, BLACK ADVANTAGE Publishing™ . The author shall neither be liable nor responsible for any loss or damage allegedly arising from any information or suggestion in this post.