Bitcoin Watches 50-Day MA, Stocks crash And Ukraine Cancels Crypto Airdrop, Promises NFTs

0

Last Updated on 5 March 2022 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
View all posts

Bitcoin followed European stocks (and the Euro) down on Friday, after the possibility of a nuclear accident in Zaporizja was raised when Russia occupied (and started a fire in) Europe’s biggest nuclear power plant in Ukraine.

European stocks dropped sharply, with the Amsterdam AEX tumbling 4% and the Frankfurt DAX 4.4%.

Over in the world of Bitcoin, according to analyst Scott Melker, known as the Wolf of All Streets, traders should now be looking at the 50-day MA for indication. He stated:

Humans and bots alike are watching the 50 MA on the daily to see if it will hold. Got some bids there. That’s the blue line below price, for those who don’t know.

Advertentie.

No Airdrop, NFTs instead

Ukraine has largely revealed itself as a communication force by being very active on social networks. President Zelensky and Vice Prime Minister Mykhailo Fedorov are masters at using Twitter, Facebook and other social media accounts.

After creating crypto addresses to receive donations, the government also announced a future airdrop for donors before backtracking in the end.

Having already legalized Bitcoin, Ukraine quickly embraced cryptos to maximize and facilitate donations after Russia invaded its soil. Holders of BTC, ETH and DOT (among others) could participate. Polkadot founder Gavin Wood even got involved personally.

After raising several million dollars in BTC, ETH and even NFTs, Ukraine announced an airdrop (a distribution of free tokens, to reward generous donors).

Ukrainian Vice Prime Minister Mykhailo Fedorov, who had been communicating with Elon Musk, Facebook’s Nick Clegg and other great names in tech already this week, backpedaled at the very last moment though.

After careful consideration we decided to cancel [the] airdrop, Fedorov explained. Every day there are more and more people willing to help Ukraine to fight back the aggression. Instead, we will announce NFTs to support Ukrainian Armed Forces soon. We DO NOT HAVE any plans to issue any fungible tokens.

artjazz / Depositphotos.com