Bitcoin has been trading in a range for a while, but the good news it is that it didn't dump on the Federal Reserve rising the US Interest rates up .25% a fairly mild move, but one that sometimes can cause market reactions.
Not only did Bitcoin not dump the price moved above $41,000 for the first time in a week.
Earlier in the week the UK was discussing banning POW Crypto such as Bitcoin was creating the FUD, but the legislation was rejected.
While many continue to talk about regulating cryptocurrencies for one reason or another, I think the potential for the economic wins that accompany an emerging technology brings, is also a large factor of why they aren't getting a lot of support in the regulation or banning of Bitcoin.
Meanwhile both Russia and the Ukraine have passed legislation to legalize and bring BITCOIN out of the shadows for obvious reasons both Nations could find major reasons to use Bitcoin in the face of a Global financial war, US Sanctions, and difficult access to USD as well as profitable mining brings Bitcoin attention center in the Global conflicts playing out.
https://finance.yahoo.com/news/russian-crypto-miners-brace-sanctions-162225701.html
As China and HongKong fight Covid outbreaks and get caught up in the conflict in the conflict there is still more uncertainty in all markets as everyone watches the Global Elites melt down and impact the entire Global Economic system. Many are calling for recessions or worse, and whether or not Bitcoin will remain a hedge against all this uncertainty, I feel much better knowing I have Bitcoin and other cryptos and while I can't prove they will save the day for my family, I certainly hope it provides us with additional options in these challenging times!
I stand with the people who are facing challenging times during a conflict they didn't ask for and can't control.
picture from Pixabay.
