CAPEX.com
CAPEX.com

Article Hero

Cryptos regain ground

1645795115.png
Miguel A. Rodriguez
Miguel A. Rodriguez
25 February 2022
The end of the week comes with promising news for crypto enthusiasts

Cryptocurrencies gained ground following a steep sell-off on Thursday when around $150 billion were wiped off the market after Russia invaded Ukraine.

Despite the recent market events sparked by the Russia-Ukraine conflict, which also made the global stock fall sharply, the cryptos’ latest movement can be attributed to another event. Crypto miners in Kazakhstan have decided to relocate amid power shortages and price hikes. The miners have moved out 30% of their equipment and are speculated to set camp at El Salvador, Dubai, Iceland, and other regions with cold climates.

According to data from Coindesk, Bitcoin was trading about 9.4% higher, at $38.709. It fell to $34,338 on Thursday. Popular meme coins such as DogeCoin, was also on the green side, rising 10.19%.

Sources: cnbc.com, coindesk.com, coinquora.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

Share this article

How did you find this article?

Awful
Ok
Great
Awesome

Read More

Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.