I'm not an investor, just a crypto amateur. I have been astonished by news on last months regarding the cryptocurrencies market. Let's have a look on each of them to sum up the backs and forths of their government.
Europe
Since the begining of cryptocurrencies era, the governements of Europe continent have expressed their animosity against the cryptos and at several multiple times. They have never expressed being interested to engage themselves in this market. They have also announced a year ago working on their own digital "stable" currency.
USA / UK
The country is spending the energy to mine everyday 36% of the global crypto currencies amount (August 2022). Since the begining of cryptocurrencies era, they are simulating fake news on being against cryptocurrencies, but each time they are also contradicting themselves announcing they want to be the leader on this market. Also they are multiple news of detaining very large amount of confiscated cryptocurrencies.
Russia
The country is spending the energy to mine everyday 11% of the global crypto currencies amount (August 2022). Until October 2022, this country wasn't hostile to crypto currencies.
End of December 2022 it announced the launch of its numeric currency to counter cryptocurrencies.
And since the invasion the governement didn't stop to call against crypto currencies, considering them as a risk as it cannot control them.
Kazakhstan
The country is spending the energy to mine everyday 17% of the global crypto currencies amount (August 2022). Unfortunately they are spending too much of their ressources to mine crypto currencies. They confessed recently that they didn't succeed to make benefit of this mining. Notice also that this country has been attacked/protected (who knows) by Russia a month ago.
China
China (as Europe) as always expressed disgust against crypto currencies and they have also announced working on their own digital currency. But contrarily to Europe, China has a great power of mining... And as you can notice yourself, there are still missing 36% of the global mining power (in my previous statistics), so I can deduct that this is the energy they are spending to mine everyday crypto currencies ! But on last hours news are multiplying concerning police disconnecting power of mining pool.
Globally
Since the invasion ALL exchanges (Coinbase, Kraken) of all allied countries (USA, Korea, EU, UK) have synchronized their efforts to block Russian people from exchanging cryptocurrencies. So this should help Russia own efforts to fight cryptocurrencies in their country. But as Asia exchanges haven't blocked Russia (Binance), I guess that all those efforts are useless and cryptocurrencies can still circulate all over the world.
Also more and more isolated countries are rushing to accept cryptocurrencies on their market : Thailand, Ukraine, Salvador.
Conclusion
In cryptocurrencies you can never be too careful, anything can happen. I think we are going to see big fall of cryptocurrencies on next week because China and Russia are going to crack down on everything they can to crush the cryptocurrencies. But on the opposite, I also think that USA, UK and isolated countries are going to push on their end for cryptocurrencies adoption.
What are your throughts on recent cryptocurrencies announcements all around the world ? What is your strategy for coming weeks ?
Posted Using LeoFinance Beta
Long by support and short by resistance that is my plan.
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Long to the moon for everyone I hope !
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Why do you think so? Especially in Russia where majority of financial operators have shut down operation, crypto is the best and easiest alternative to move funds around.
Posted Using LeoFinance Beta
Yes it's weird but in all case I don't think they will all play the same game. Some will be pros/cons and will raise presure. Have a good week end!
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