Bitcoin Highly Sought After By Russians Amid Global Sanctions
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Free Crypto Signals Channel
Free Telegram Channel
When asked if he would purchase Bitcoin in the current market conditions, Mobius replied that “I would not be a buyer,” however, clarifying that “If I [were] a Russian, I would be a buyer.”
Commenting on the property buying habit of many foreigners in Dubai where he lives, he described: “I was talking to a property agent yesterday. He said they’ll buy anything. They get money out of Switzerland, they have Swiss bank accounts.”
Mobius further explained: “If they can pay with bitcoin. Of course, that’s an avenue to get money out of Russia,” adding:
“I would say that’s the reason why bitcoin is showing strength now because the Russians have a way of getting money out, of getting their wealth out.”
The veteran investor closed by saying: “Otherwise, they are really in trouble with all the closures of different avenues for them to transfer money out.”
Mobius has remained steadfast in his skepticism of Bitcoin. Last year, the veteran investor advised other investors not to see crypto as an investment tool rather, “It’s a means to speculate and have fun. But then you got to go back to stocks at the end of the day.”
Key Bitcoin Levels to Watch — March 3
BTC has fallen under a bearish influence again as it failed to clear the $45K top yesterday, after a 24-hour consolidation around the $44K mark. The benchmark cryptocurrency has dipped to the $42K low and threatens additional declines if bulls fail to defend the support level.
That said, we could witness a bearish continuation to the $41K support over the coming days where a confluence of technical factors, including my ascending trendline and pivot zone top, reside. A fall to this zone should facilitate a sharp rebound for the primary cryptocurrency in stages, as illustrated in the chart above.
Meanwhile, my resistance levels are at $43,000, $44,000, and $45,000, and my key support levels are at $42,000, $41,000, and $40,000.
Total Market Capitalization: $1.86 trillion
Bitcoin Market Capitalization: $801 billion
Bitcoin Dominance: 43%
Market Rank: #1
You can purchase Lucky Block here. Buy LBlock
