The financial markets, specifically speaking of the cryptocurrency market, have been having a hard time this January, and it is that a large part of the assets that make it up have had significant losses in their values. These have been accompanied by news about events that have generated considerable uncertainty and created a panorama of speculation and panic among the investing public.

A quite controversial new week begins for crypto enthusiasts, since although some of them are in a stress and fear situation due to the unbridled falls of most cryptocurrencies, others have seen the situation as a great opportunity to add more capital into their investments at entry prices that seem to be unbeatable. This week, the crypto market has started with losses of approximately 25% compared to what we saw in the previous week. One of the most important events that occurred in the week which propelled cryptocurrencies to continue with this prolonged crash was the alleged proposal by the Central Bank of Russia to ban the mining and use of crypto assets throughout the country. The Russian government considers that mining processes harm the environmental objectives of the country, in addition to providing the ability to obtain funds to organizations that promote terrorism or are in some way threats to the government or society. On the other hand, the US government would be preparing an executive order which is expected to be published in February. It will provide a comprehensive government strategy focused on the use and regulations of cryptocurrencies, asking federal agencies to collaborate in determining their risks and opportunities. In other news, Twitter has launched a feature which will allow users who own NFTs to use them as their profile picture. The social network seeks that those who have paid large amounts for this type of asset can show it so that the platform provides support to certify that it is an NFT. This could be done once users sync their digital wallet with their Twitter account, so the system can verify if it really is a genuine NFT. It is said that this will also soon be implemented on Facebook and Instagram, since the tech giant Meta does not want to be left behind. Bitcoin is currently near $33,400, after breaking the $40,000 support quite strongly. Given the circumstances of the market and the panic and uncertainty that have been generated, it does not seem unreasonable to see Bitcoin reaching that support close to $28,000, which could be a very attractive entry point for a large number of investors. BTC/USDT 1D (TradingView Chart). Ethereum, for its part, plummets to below $2,200, losing more than 50% of its value since reaching all-time highs last November. The free fall of the most important network in the world of cryptocurrencies could continue until reaching $1,700, where it would find quite interesting support. ETH/USDT 1D (TradingView Chart). We have faced quite tough days for cryptocurrency investors, since their assets have been greatly reduced. It is being said that an inevitable recession is coming this year, so we should be aware of all the decisions made by governments regarding economic policies and those directly related to the cryptocurrency market. However, various analysts ratify their bullish stance which positions cryptocurrencies at all-time highs at the end of this year. Without further ado, we wish you an amazing week.