Cryptocurrency (virtual currency) plummeted in trading on the 24th of Asian time. Bitcoin hit its lowest price in a month after reports that Russian President Vladimir Putin decided to carry out a military operation in eastern Ukraine.
Bitcoin, which has the largest market capitalization in virtual currency, temporarily fell 7.4% to $ 34,783. Second place Ether was temporarily down 8.7% to $ 2390.61. XRP, Cardano, Solana, etc. are also cheap.
Putin decides to carry out military operations in eastern Ukraine-Tas
With the drop in Bitcoin prices amid rising geopolitical tensions, the argument that cryptocurrencies will become an emergency hedging tool has receded. On the other hand, gold, which is considered to be a refuge for traditional funds, soared to the highest level since January 2021 on the 24th.
Gold price, the highest since January 2021-due to the tension in Ukraine
Original title:Bitcoin Tumbles as Putin Orders Military Into Eastern Ukraine(excerpt)