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Unrest Of Kazakhs And Crypto: Is It Time To Buy Bitcoin?

01/14/2022
|
  • bitcoin
  • kazakhstan
  • mining
  • osbourne
  • NFT
News list

Who would expect the vulnerability coming from Kazakhstan; one man falls, another fills his pocket... Time to grab cheaper bitcoin? And to get it even darker - Ozzy Osbourne and his bats hitting the headlines again. All that - in our new release of crypto news

Have Kazakhstan Authorities Crashed Bitcoin by Raising Gas Prices?

Even though everyone wants the new 2022 to be better than the two previous years, the new year started off in turmoil. On January 2nd, Kazakhstan that has been a safe haven for miners fleeing China was overwhelmed with bloody riots till the state of emergency was announced.

It began with prices for gas doubling. After that in the town of Zhanaozen started protests against rising prices on fuel. Interestingly enough, this town is based exactly on gas and oil production sites where the majority of the population is occupied in energy production. Other towns and cities of Kazakhstan followed the relatively small (a little more than 100 thousand people of the population) town. The most important events were located in the country's former capital, and now the biggest city - Almaty.

The protests grew into true riots with administrative buildings and cars arsons, with looters robbing banks and shops, and with victims among the peaceful people and the authorities representatives. As a result, the country's government resigned, the country announced an emergency state with the internet turned off in almost all the country.

This exact event most analysts connect with the record fall of Bitcoin last week. Due to internet shutdown in Kazakhstan, the Bitcoin hash rate fell by 12%. However, all the specialists agree that the crypto crash is not induced solely by the riots in Kazakhstan. For instance, Arcane Research analysts explain the fall of Bitcoin with the FED announcements that promise harsher monetary policy in the country. By an interesting coincidence, the mass internet shutdown and the FED protocols publication happened on the same day, on January 5th. This is exactly the day when Bitcoin took a sharp tailspin.

Have Kazakhstan Authorities Crashed Bitcoin by Raising Gas Prices?

And Yet It Will Grow! Bitcoin - Time to Buy?

Even though the beginning of the year was not the best time for the world's first cryptocurrency. most analysts see some perspective for growth for it. Even though the Bitcoin prices fell below the level of 40 thousand USD, experts are optimistic and believe that its price will grow by 200 thousand USD.

So Vladimir Smetanin, the head of the Newcent financial company, is 51% certain about Bitcoin reaching 100 thousand USD within a year. This also means that he sees a 49% chance that Bitcoin will not make it. So overall, there are two options: it will either grow or not. Other sources refer to the last year's experience and wait to see if the story repeats itself and Bitcoin breaks its historical maximums and reaches the long-awaited level of 100 thousand USD. After that, as many analysts believe, the world's first cryptocurrency will have nothing else to do but to reach the next star - 200 thousand USD.

Anyway, now the Bitcoin price is very attractive for investors. And now Su Zhu, the head of the Three Arrows Capital hedge fund announced he saw a rare signal for buying Bitcoin. According to Mr Zhu, there were only six such signals throughout the whole history of the cryptocurrency, and every time it showed rapid growth after that.

And Yet It Will Grow! Bitcoin - Time to Buy?

Ozzy Osbourne And His NFT-Bats

Today only a very lazy celebrity has not launched their own NFT tokens, and the time has come for Ozzy Osbourne to join the digital art community. Well, you probably understand that the infamous rocker and the head of Black Sabbath hard rock band decided to create his own virtual art. The CryptoBatz collection will include 9666 objects in the form of pixel bats.

The choice of a bat as Ozzy's main collection item is very understandable and refers to a famous incident when at one of his concerts the singer accidentally bit off a winged animal's head.

It is also said that Ozzy's NFTs will mutate. The 'bat' can 'bite' any other token in the user's wallet and they will convert into a new coin.

Ozzy Osbourne And His NFT-Bats

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