CRYPTONAIRE WEEKLY MAGAZINE 223RD EDITION IS OUT NOW



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The Russia-Ukraine conflict attracted strong economic sanctions by the West, sending the Russian ruble (RUB) tumbling to a record low of 118 per dollar on February 28, according to Bloomberg data. This resulted in a massive increase in Bitcoin trading volumes in the Russian ruble as investors sought to protect their wealth from the plummeting ruble.

“Volume for both RUB and Ukrainian hryvnia (UAH) trading pairs increased far more quickly than volume for other pairs, such as BTCUSD, which suggests the crisis is directly influencing trading behaviour,” said crypto data company Kaiko, CNBC reported.

The Russia-Ukraine conflict has underlined the importance of cryptocurrencies, which are borderless and censorshipresistant.

We had mentioned in our previous analysis that Bitcoin could slide to £25,000 and the price dipped to £25,414.38 on February 24. The subsequent rally rose to the 50-day simple moving average (SMA) but the bears defended the level aggressively.

The BTC/GBP pair turned down on February 26 but strong buying on February 28 propelled the price above the 50-day SMA. The rally has reached the strong resistance zone of £32,382 to £34,031.

This zone has acted as a strong resistance on three previous occasions, hence the bears are again expected to mount a strong defence. If the price turns down from this zone, the pair could drop to the 50-day SMA.

A sharp bounce off the 50-day SMA could offer a buying opportunity to traders as that will suggest that sentiment has turned positive and traders are buying on dips. If buyers drive the pair above the overhead zone, the next stop could be the 200-day SMA.

This positive view will be invalidated if the price turns down from the current level and breaks below the 50-day SMA. Such a move will indicate that the pair remains range-bound between £24,450 and £34,032.

Lastly please check out the advancement’s happening in the cryptocurrency world.

Enjoy the issue!

Featuring in this weeks Edition:

- Hubble Protocol

- XMateFans

- The Boujee Leopards Club

- Reefer Token

- Nunu Spirits

- Mine Network

- Jimizz

- Faith Tribe

Read More
CRYPTO TRADE OPPORTUNITIES

Bitcoin climbs to $41K and flippens the Russian ruble

The Petroyuan Is No Russia Sanctions Buster; Bitcoin 15% Gain Is Largest in a Year as Investors See Opportunity for Crypto

Terra (LUNA) gains 70% in 7 days, overtaking Cardano and Solana by market cap

Institutions Pour $36,000,000 Into Bitcoin, Ethereum and One Additional Altcoin As Market Volatility Skyrockets: CoinShares

Swampverse NFT: Collection of 9,600 Frog & Toad Character NFTs

The Boujee Leopards Club NFT Project Giveaways

Hubble Protocol: Now Live on Solana

REEFER Token Sells Out Pre-Sale Allotment Ahead of Schedule

DeFi Coming to Solana with Hubble Protocol

MINE Network: The best GameFi dApp based on hashrate!

Jacquie & Michel Group officially launches its own crypto-currency: the Jimizz


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