Bitcoin Crypto News

Bitcoin Plunges Below $40 As Russia Has Reportedly Given Its Forces Order To Attack Ukraine

Bitcoin plunges below $40,000 in the early hours of the weekend and proceeded to backpedal in the face of escalating tensions on the Ukraine-Russia border, not to mention ongoing inflationary unease. At the time of writing, the world’s most popular cryptocurrency was trading near $38,700, down 3.4% in the previous 24 hours and at its lowest level since February 3. Bitcoin had been holding solidly above $40,000 in recent days, however Friday’s decline was the first time since February 4 that it fell back into the $30,000 region. Ether and nearly all other major cryptocurrencies were down as well. A probable misuse of OpenSea, the leading NFT platform, may have shooed away investors even further away from cryptocurrency. Related Article | Bitcoin Falls As Russia-Ukraine Tensions Escalate Bitcoin Plunges: Lots Of Factors At Play Bitcoin’s price has been slowing in recent weeks following Federal Reserve Chairman Jerome Powell’s announcement that the central bank will begin hiking rates at its March meeting in response to persistent inflationary pressures. More broadly, January’s significant BTC decline occurred following the stock market’s worst month since March 2020 and the issuance of the Fed’s long-awaited research on the possibility of a government-issued digital currency. All of these concerns may have prompted investors to “reduce their exposure to crypto,” according to Joe DiPasquale, chief executive officer of fund manager BitBull Capital. Prior to Feb. 4, Bitcoin had been unable to break through the $40,000 barrier since January 20. On Jan. 24, Bitcoin fell below $34,000 for the first time since July of last year. BTC total market cap at $736.97 billion in the daily chart | Source: TradingView.com Russian Forces Given Green Light To Invade? The price decline occurred as US intelligence revealed Russia is on the verge of attacking Ukraine. On Sunday, US Secretary of State Antony Blinken stated that everything “appears to be taking place” in the run-up to the invasion. Russian forces gathered near Ukraine’s border have received orders to invade, according to The Guardian on Monday, citing information from U.S. intelligence agencies. Elsewhere, Yuan Shows Strength As last week in Asia came to a conclusion, Chinese official media announced that the yuan, China’s currency, was comfortably flexing its muscles. According to China’s media, the value of RMB payments climbed by nearly 11% in January, citing data from SWIFT, a Belgian cooperative society that acts as an intermediate and executor of financial transactions between banks from around the world. Related Article | Bitcoin Slows Plunge Below $40K, What’s The Best Point For A Pullback? As a result of the unexpectedly sluggish performance of the digital yuan during the Winter Olympics, RMB payments rose more than 10% versus December. The RMB now accounts for 3.3% of all global transactions, up from 2% in November. On the other hand, the British pound accounts for 6.2% of global commerce. … But The US Dollar Dominates Interestingly, when it comes to digital currencies, the US dollar continues to reign supreme. Chainalysis stated in 2020 that $50 billion in cash went out of China in cryptocurrency, the most of it in dollar-pegged tether. “Despite the United States’ declining share of global GDP, the dollar continues to dominate, most notably in the digital environment,” Bloomberg commodity strategist Mike McGlone stated in April last year. Meanwhile, momentum indicators remain negative, showing that selling pressure has been constant over the last month for Bitcoin. BTC failed to break above its 40-week moving average of $45,724, indicating a bearish bias. Featured image from NewsXPres.com, chart from TradingView.com

Bitcoin Crypto News

Bitcoin Slows Plunge Below $40K, What’s The Best Point For A Pullback?

Bitcoin continues to trend lower over the weekend and seems at risk of re-testing previous lows. The first crypto by market cap was rejected at mid-area north of $40,000 and was unable to muster the momentum to hold those levels. Related Reading | Did Top Three Bitcoin Addresses Just Call Another Local Bottom? As of press time, Bitcoin trades at $39,921 with a 1.2% and 5.2% loss in the last day and 7 days, respectively. Yuya Hasegawa, analyst for Bitbank, attributes BTC’s price recent price action to the Russia-Ukraine situation. In that sense, the analyst expects potential relief as the U.S. Secretary of State Antony Blinken and the Russian Minister of Foreign Affairs Sergey Lavrov scheduled a phone call for next week. This could tone down the tensions around the situation at the border. On top of that, the analyst claims Bitcoin is sitting at “ample technical support” which could protect its price from further downside. However, is a long weekend in the U.S. which usually leads to potential periods of high volatility driven by low trading volumes across the crypto market. Hasegawa said talking about BTC’s price immediate and medium-term potential headwinds: We still have the January U.S. PCE, February jobs report, and CPI until the March FOMC meeting, so it is safe to say that, depending especially on these inflation data, the worst may be still ahead of us, and even if the price rebounds from the current level in the short term, upside is likely quite limited unless the Russian military shows some signs of retreating. The macro-situation seems to occupy everyone’s attention. A separate analyst from Material Indicators (MI) claims the Russia-Ukraine situation could see an outcome after the Winter Olympics in Beijing. These events have been linked to similar crises in the past, such as the invasion of Crimea which took place in 2014 during the Olympics hosted by Russia. Bitcoin To See Short Squeeze Over Long Weekend? Further data provided by Material Indicators claims BTC could have entered a distribution phase. Recommending traders to “avoid knife catching”, especially during periods of low volume, MI presented their Trend Precognition indicator which flashed a bearish arrow on the daily chart as BTC’s price trend below $40,000. This could suggest the benchmark crypto might re-test its lows which could find good support, as MI claimed, “in areas of prior consolidation”. The levels between $35,000 to $38,000 were relevant during BTC’s price previous sell-off and could operate as support. However, MI noted that there are “Liquidity gaps”, levels on the order book with low bids or asks orders, on both sides of the BTC/USDT trading pair. Thus, Bitcoin could see a short squeeze to the upside or downside. Related Reading | Comparing Apple’s Growth With Bitcoin, Why This Expert Sets $700K As Long-Term Goal Currently, there are around $10 million in bid order around $39,500. Therefore, there seems to be strong support for BTC at that level which could favor the bulls, at least in the short term.

Crypto News

SharkRace Club – the World’s First NFT project with Rarity Upgrade Platform and Play-to-Earn 3D Game

SharkRace Club project developers have implemented the latest technologies to provide maximum value and incredible experience for the SharkRace Club members. The platform embraces high-quality NFTs and play-to-earn 3D Metaverse Game, offering so much fun for players. BSC Blockchain and Built-In Wallet The SharkRace Club project is built on the BSC blockchain. Developers chose this platform as it provides the fastest and safest transactions. In addition, all operations within the ecosystem will be processed through smart contracts. The project development team has extensive expertise in building blockchain solutions. Together they have developed Tizer crypto wallet, which is available to download on the AppStore and Google Play. The wallet is integrated into the SharkRace Game  Platform, and one can easily enter and play with no need to connect any crypto wallet. Although, the project is fully compatible with other wallets as well. SharkCoin The project token is SHRK – SharkCoin also created on BSC. The token can be applied for all operations within the platform – users may buy NFTs with it, boost their rarity, buy stuff on the marketplace, or stake. The total supply is 1 billion, initial market cap – $308,480. The project plans to hold an IDO on March 3, 2022, on Seedify, Enjinstarter, Oxbull, Gemstarter launchpads. NFT Sharks And Rarity Upgrade SharkRace Club NFT collection was created by high-profile Cannes Lions awarded artists who have worked on drawings for Disney and visual art for the Olympics. The collection comprises 20,001 generative NFT Sharks, each of which is unique. In addition, there are 1000+ hand-drawn traits ensuring that every NFT Shark owner gets an unforgettable experience turning their Sharks into an authentic piece of art. The images are drawn in 3D and delivered in ultra-high 4K resolution (2400×2400). Each NFT has a different rarity index and is distributed randomly. NFT owners have access to the Rarity Upgrade Platform, where they may customize their NFTs acting like true artists. They can buy rare traits for NFTs as well as complement them with GIF animation effects at the Rarity Store. It helps increase the initial rarity index of NFTs and multiply their utility. It looks like an advanced online clothing store where visitors can try various things on their NFT Sharks and see how they fit them. Each accessory comes as a separate rare BEP-721 NFT and has its own rarity index. Once the user picks the clothes or accessories for an NFT, one should click “dress”, then the smart contract will burn the initial image of the NFT Shark, changing it to its new style with the new trait. This new image will be added to the user’s account and refreshed in the metaverse. SharkRace Club And Its Preferences Once user buys an NFT Shark he (she) becomes a member of the SharkRace Club and receives many privileges, such as: Access to the Rarity Upgrade platform and SharkCoins Lifelong royalties, right to vote, staking preferences Free Game-pack of 3 different gaming NFT meta-sharks to start playing right away and a gift card for the play-to-earn game, also for free. Shark Race Game Shark Race is a world of intelligent and merciless sharks competing for the RaceBank and unique NFT prizes deep down the shark’s metaverse. Cross-platform play-to-earn 3D game uses special gaming meta-sharks and BEP-1155 NFT. Built on Unreal Engine 4, this is a game with breath-taking challenges where participants can earn, try their luck and enjoy the race. Players can get extra skills, lives, boosters, etc. and select one of the three types of meta-sharks which suit their gaming style best. The game provides a great way to earn money with zero input just by selling in-game artifacts which you have gained through the race. In the group tournament, the prize fund will be generated by the SharkRace platform sales. Additionally, players will be able to initiate their own team-play with bids provided by them. Various leagues and fascinating tracks will be released in the Shark Race. Team and backers A dedicated and experienced team is aimed to grow and boost the SharkRace Club project. The game release is planned for Q2 2022 and is supposed to revolutionize the gaming industry, uniting players worldwide. Having such solid backers as Shima Capital, AU21, IBC, NFT Tech, Seedify, Enjinstarter, OxBull, Synapse, Prostarter, Inazuma, OIG Capital, and others the project has all the chances to succeed. The combination of an engaged and experienced team of bright minds and trusted backers leaves no doubt that it will be a fantastic 2 in 1 NFT project that will bring truly groundbreaking ideas and opportunities for NFT Collectors and players. Roadmap The project has long-term and ambitious plans, and it is easy to see from the roadmap: March 3, 2022 – IDO March 5-8, 2022 – NFT pre-sale and INO March 9-11, 2022 – NFT Sharks collection mint April 2022 – the play-to-earn game release Wrap-up Detailed and bright, professional and high-quality NFT cards with numerous exclusive traits, options to upgrade the NFT rarity, special gaming NFT pack, dedicated team, numerous advantages and gifts for the SharkRace Club members , staking, and just having a good time – all these and much more make the SharkRace Club project so unique and revolutionizing, so we can’t wait to try all the features it brings. It won’t be long to wait for the project to start  – IDO is planning on 3 March 2022 on Seedify, Enjinstarter, Oxbull, Gemstarter launchpads.