Bitcoin remains in a downtrend for now, after the price jumped back to over $45,000 a good two weeks ago. Today, the bitcoin price moves at $38,032.61 in the evening in Asia.
That said, when looking at the daily chart, the current position becomes important, because from here it could be decided in which direction the bitcoin price will move in the short term.
The situation surrounding Ukraine is currently causing all markets, including the crypto market, to look down. The U.S. stock markets also started after President’s Day yesterday once again in the red.
The DOW starts with a minus of 0.67% at 33,850.33.
The S&P 500 starts slightly down 0.16% at 4,342.83.
The NASDAQ is down 0.07% at 13,536.61.
The Kazakhstan Ministry has declared war on illegal crypto miners. In a statement, the ministry announced that it has taken 13 illegal crypto miners out of circulation. The number 2 Bitcoin mining country has been looking at regulating Bitcoin miners for a long time. According to the report, crypto mines consume an immense amount of electricity, which is a thorn on the government’s side.
Kazakhstan has already cut the power to crypto miners in the past to prevent local blackouts.
Kazakhstan became the second-largest Bitcoin mining country after the Chinese banned cryptocurrencies. The affected crypto miners then moved to other countries like Kazakhstan.