These 2 Developments Can Determine the Fate of Bitcoin and Altcoins!

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The color started to turn green again in the crypto money market, and in the process, investors who bought from the fall have already started to make profits. At this point, Conor Kenny, the host of one of YouTube’s popular channels in the cryptocurrency market, states that two developments are very important for cryptocurrencies. Let’s take a look at these developments…

Future Developments from Russia

The first major catalyst to watch out for is tensions between Russia and Ukraine, according to the analyst. At this point, it is stated that it is very important for cryptocurrencies that Russia starts a war against Ukraine or does not take this step at all.

If there is a war situation, we can see that a great fear has become dominant in the crypto money market, as in all markets. This, in turn, could make things worse for cryptocurrencies. However, the analyst states that this situation will be evaluated as a buying opportunity by experienced investors. If there is no war situation, with the comfort to be experienced, hard moves can be seen in the markets.

Money May Flow To Cryptos

Second, the analyst states that a lot of speculative capital from the rotation of bonds in stocks could eventually flow into crypto. This is considered a very important development for all cryptocurrencies.

According to the statements made, many new users were registered on exchanges such as Coinbase and FTX, thanks to the latest advertisements. This may indicate that a large number of people are coming to the cryptocurrency space to learn and invest. New investors can trigger an upward move in cryptocurrency prices.

Bitcoin Price

Bitcoin price is currently struggling not to lose the $44,000 level. At this point, Kenny states that the $40,000 to $41,000 band is a very strong support level. He states that the next resistance line will be between $45,000 and $46,000.

In addition, the analyst adds that we cannot talk about a clear rally until the $55,000 level is broken. therefore, we may stay in the consolidation process for a while until the above two important developments yield results.