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CryptoGlyn
Feb 28, 2022

(Open post for analysis and discuss too) Time to talk again about Bitcoin as I guess we should do here on Banter. I understand the sad situation the Ukraine people are struggling with but we all should protect our investments too.

Daily Star front page, 28/2/22. (UK newspaper)Daily Star front page, 28/2/22. (UK newspaper)

Yep, "🤪Madder than a box of frogs🤪" is about it given the recent development of putting nuclear weapons on standby/escalating the alert levels as we speak.🥶 This now goes beyond just the Ukraine and is a nervous signal to the rest of the world. What the hell is this week going to hold for us all? I, for one, feel very uneasy and worry about this recent move by "Mad Vlad" and fear for everyone's safety on the entire planet. My portfolio for now sits in a USDT position at 91% as I am not confident that more financial distress will unfold.

BTC Weekly close (Binance data) Screenshot 6.30am UTC 28/2/22BTC Weekly close (Binance data) Screenshot 6.30am UTC 28/2/22

Bitcoin, given this crazy time has faired quite well. The largest shock to price was in the early hours of the 24th as Russian forces entered greater Ukraine. However, Bitcoin showed some strength bouncing back just over the psychological 40K mark for a single hour candle on 26th open, yet slid from there to close the weekly some $387 down printing a red candle as seen.

The argument now, and a sad one at that when we have to call this term, is Bitcoin "War-proof"? That is, will it sustain a reasonable price or indeed attract capital flowing into it? Given the mad escalating situation we are in now, in my opinion, it is too early to call this, yet it does have the possibility to be so.

Asian stock market 6.44 am UTC 28/2/22 Compliments investing.comAsian stock market 6.44 am UTC 28/2/22 Compliments investing.com

With the Asian markets first to open this week ahead of Europe next followed by the U.S. markets, so far the reaction is neutral with markets ranging plus or minus 1%. It may give an indication that some stability will revisit the general global market this week, but all eyes will still be on Mad Vlad and the Ukraine and things could change quickly once again.

Monday again and to me the Ukraine Crisis and the highlighted nuclear threat is the determining factor on where Bitcoin will go and the wider global money markets too. We are living in right now in one of the most uncertain times in my own life on this planet and I truly feel for the Ukraine people, your average Russian who many are against Putin and his plans, and everybody else in the world by Putin's newer veiled threats to everyone's stability and to be allowed to live in peace. All you can do as a small investor elsewhere in the world is look after your investment in crypto and decide how to manage your portfolio right now.

Please feel free to comment below, I'd like to hear your thoughts, so don't be shy and comment.

Cheers, CryptoGlyn.

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