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Market Wrap: Bitcoin, ETH see a massive pump while the Russian ruble crumbles
The sanctions imposed by the West brought the ruble to collapse The increasing demand for Russians and Ukrainians probably played a role in the pump of Bitcoin! Function () {"use strict"; Window.Addeventlistener ("Message", (Function (E) {if (void 0! == E.Data ["Datawrapper-Height"]) {var t = document.queryselectorall ("iframe"); For (var a in e.Data ["" Datawrapper-Height "]) for (var r = 0; r
Market Wrap: Bitcoin, ETH see a massive pump while the Russian ruble crumbles
- The sanctions imposed by the West have brought the ruble to collapse
- The increasing demand among Russians and Ukrainians probably played a role in the pump of Bitcoin
! Function () {"Use strict"; Window.Addeventlistener ("Message", (function (e) {if (void 0! == e.data ["datawrapper-Height"]) {var t = document.queryselectorall ("iframe"); for (var a in E.Data ["Datawrapper-Height"]) for (var r = 0; r
The dramatic decline and the risk that money will be confiscated by the bank accounts of the citizens correlates with an enormous increase in the Bitcoin price, which indicates that the Russians are trying to lose ruble for bitcoins. The demand for cryptocurrency could also come from Ukrainians who are looking for a digital solution for money, since many flee from the country or prepare for further disorders after the Russian invasion.
Some journalists in the Ukraine have that ATMs were cleared and that most of the credit card terminals were contributed to a rush for crypto.
got a car today. I bought it with #bitcoin because all ATMs were almost cleared out. Hopefully it allows us to report a little of to report #donbass also protects us if it is hot here goes.
- emil filtenborg (@efmikkelsen) 25. February 2022
The stock markets were largely in the minus that day, with the S&P 500 accumulated by 0.26 %. The dow followed this example and fell by 0.49 %, while Nasdaq ended the day with an increase of 0.34 %, even though it was in the red for most of the trade.
bitcoin, ether and most cryptos recorded enormous profits. Bitcoin was a leader with a daily increase of over 10 %, and ether recorded an increase of 7.5 %.
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go forward
If the presentation of the application of Bitcoin fully pays off as a value preservation means, it could possibly disconnect from risky assets and shares such as technology stocks. The increase in inflation and the continuing turbulence in Ukraine directly contribute to this and lead Bitcoin from his latest sacrifice.
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The Post Market Wrap: Bitcoin, ETH See Massive Pump As Russian Ruble Crumbles is not a financial advice.