Bitcoin is getting cheaper. What events contribute to this?


What this may be related to and what Kazakhstan may have to do with reducing the cost of bitcoin – we will tell you in this article.

Decrease in quotes

Today, January 7, the first cryptocurrency has updated its monthly minimum and is at $41 000. As it usually happens, altcoins begin to suffer after bitcoin. For example, Ethereum and Solana are up to $3.3 thousand and $147, respectively.

Two important events happened during the week, due to which such noticeable changes could have occurred in the financial and cryptocurrency markets.

The first event that is now on everyone’s lips is the protests in Kazakhstan. For several days, citizens of the republic have been protesting and demanding a reduction in the price of liquefied gas. In connection with this, the authorities decided to completely turn off the Internet throughout Kazakhstan. After China banned digital assets in the first half of 2021, many large Chinese crypto mining companies moved to Kazakhstan, both due to geographic proximity and the low cost of electricity in the country. Very quickly, Kazakhstan came in second place in the production of the first cryptocurrency in the world, providing about 18% of the world hash rate. After the shutdown of the Internet in Kazakhstan, the hashrate decreased by 12%.

The second event is important macroeconomic news from the United States. The FRS meeting was held in December and, according to the published protocol, the American regulator will raise the interest rate faster and may start doing it earlier. After such news, the stock market reacted with a strong fall, and lately it has been correlated with digital assets.

In addition, one cannot exclude the fact that many investors prefer to withdraw funds from risky deposits, in an unstable situation in the world.

What will happen next

If the situation with Kazakhstan continues to deteriorate, then most likely, many miners will simply start migrating to other countries. At the moment when the Internet was disconnected, many traders from Kazakhstan lost the ability to manage accounts and transactions. This means that traders who traded with leverage were more likely to get liquidated.

Most likely, the situation in Kazakhstan will stabilize, but this will take time and money. According to rough estimates, the protests in the country caused more than $100 million in damage, which will significantly hit the budget of Kazakhstan.

As for the Fed, they gave almost direct confirmation of raising interest rates in 2022, and they will do it several times. Of course, the market reacted negatively, because its participants are accustomed to the receipt of new money, for relatively low interest rates.

In any case, the market has already won back the fall due to the two events that we talked about above, so there is no reason for a further sharp collapse in bitcoin.

Conclusion

As you know, cryptocurrencies are highly volatile, so such serious world events easily provoked a drop in quotes. However, it would be a mistake to assume that the price will not reverse. And in order not to miss this moment and make money on price increases, you should be ready. Therefore, we can offer a trader’s assistant who can monitor the market around the clock – a trading bot. One of the segment leaders is the RevenueBot service. The service provides the opportunity to create trading bots on the largest cryptocurrency exchanges: Binance, Bittrex, Bitfinex, Exmo and others. Creating a bot is free of charge, the service will not take commissions until the client begins to make a profit from trading the bot. With the help of deep settings of the bot, the service’s clients implement trading strategies that are problematic to experience in normal trading. We will immediately indicate: the bot does not have access to customer funds on the exchange, but trades using API keys, that is, the account will remain out of access. RevenueBot has over 35 thousand customers who earn money thanks to trading bots.

Why should I choose this service?

  • Pay the commission only after making a profit.
  • The bot settings open up a variety of ways to make a profit.
  • Inside RevenueBot, a marketplace is implemented where customers can buy a ready-made bot so as not to bother creating their own, or sell their own if the configuration has shown efficiency. Also, the services of a mentor (an experienced customer of the service) are purchased on the marketplace, who is ready to answer the questions of newcomers. Over time, you can become a mentor yourself, getting additional profit for this.
  • Regular updates of the service’s features that optimize the trading process.
  • The presence of the RevenueBot referral program allows you to earn money on trading, even without resorting to trading. Attract new customers for the service and get up to 30% of the profit they receive every month (but not more than 15 USD).

This is a small list of the advantages of the service. You can continue to list the positive qualities of RevenueBot, but why do this if you can go to the official website of the service and see for yourself everything? It is highly recommended to make decisions faster, because the crypto market does not stand still, but grows at exorbitant steps. Who knows how much profit is missed by someone who does not dare to come and start trading with RevenueBot.

13 views
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments