The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
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Bitcoin is at a very important psychological milestone of $ 40,000, where the fate of the main crypto asset will be decided. If it manages to overcome this level, then new frontiers will open for it, and Bitcoin may roll back below $ 36,000.
Today, digital gold is trading at 38,900. Bitcoin should reduce its losses, which were in January due to the influx of new investors who fear huge inflation, and the price should slowly go up.
The situation and rumors about a potential war between Russia and Ukraine are heating the entire cryptocurrency market. Many traders do not know what reversal and the beginning of the trend to expect in the near future. Therefore, now everyone is aware of the associated risks.
A leading cryptanalyst from SIMETRI Research, Nathan Batchelor, is confident that at the moment investors will switch to assets such as gold and silver due to a potential war.
However, Bitcoin can still overcome the $ 40,000 milestone in the very near future, despite the intensity of passions in the political arenas.
Military provocations and the threat of war have led investors to switch to risk-free assets such as gold. Gold has shown a good increase over the past month, and now many investors consider it as a short-term alternative to bitcoin.
Bitcoin currently feels very exposed to geopolitical risks, and it is more volatile than ever. Recently, there has been a very clear correlation between bitcoin and the main hegemons of stock indices, namely the S&P 500 and Nasdaq 100.
Some analysts are sure that now is the best time to switch to gold and silver due to a possible war, and the best solution is to keep gold in your portfolio for a short time. At the moment, the cryptocurrency market is very volatile and there is panic.
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