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Bitcoin and gold have been going head to head in performance in light of the recent crisis between Russia and Ukraine. As the conflict rages on, the financial markets have been hit hard. Russia saw its stock market crash over 45% and other financial markets have equally seen declining prices.
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Bitcoin (BTC) kept $40,000 in play at the Wall Street open on Feb. 25 after 16% daily gains increased bulls' confidence.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewWhales "leading the charge" towards $40,000Data from Cryptox Markets Pro and TradingView showed BTC/USD circling the $39,000 mark at the start of trading Feb. 25,
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Global markets faltered as Russia ordered a military operation into Ukraine’s Donbas region, causing a drastic drop in crypto markets. Original Source
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Ethereum started a strong decline and traded below $2,500 against the US Dollar. ETH price is diving and remains at a risk of more downsides below $2,200. Ethereum started a major decline after it failed to surpass 2,750. The price is now trading below $2,500 and the 100 hourly simple moving average. There
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Analysts foresee more pain for bitcoin if the geopolitical tensions escalate. "Bitcoin is the ultimate risky asset, and a Ukraine invasion would keep crypto selling pressure going another 10%-15% over the short term," Oanda's Moya said. According to the latest reports, Russia is withdrawing military forces from near Ukraine. The
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With the recent increase of volatility in both stocks and cryptocurrencies, many investors are turning towards more stable assets such as gold. Cryptocurrencies showed no signs of slowing down as the week progressed with geopolitical tension, with Bitcoin briefly dipping below $40,000 for the first time in two weeks. Ether declined
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Bitcoin Rose About 3% Tuesday on Russia/Ukraine Optimism Source
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Bitcoin (BTC) and other cryptos reacted negatively to geopolitical risks on Friday. Some firms expect BTC's decline to stabilize around May, especially as the cryptocurrencies market cap rises relative to altcoins. Source
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