Due to the conflict between Russia and Ukraine, cryptocurrency investors have started a movement to withdraw their investments from these uncertain and volatile markets, to invest in something more stable, “safe”, “predictable”. Consequently, this has caused declines: Bitcoin (BTC) is down 8.3%, trading at $34,913.50 in the past 24 hours, according to data from CoinGecko. Ethereum (ETH) fell 12.2% to $2,343.83.
Vladimir Putin, President of Russia, today declared the start of a “special military operation” in Ukraine. The move comes after months of speculation trying to uncover the intentions of the Russian government as it sent troops to the Ukrainian border. Putin said this morning, according to the New York Times, that his goal was to “demilitarize” without occupying the country.
This Thursday (24), several Ukrainian cities were attacked. At that time, Joe Biden, President of the United States, spoke out saying he condemned Putin’s actions and announced that there would be a speech for the American nation today.
The conflict between Russia and Ukraine causes many declines
According to data from CoinDesk, over $242 million was recorded in the first hours of trading in Asia due to the Ukrainian attack. Additionally, Bitcoin indexed futures reached $72 million in settlements, while Etherum reached $70 million. At the same time, the price of oil bonds soared on US stock markets. According to Bloomberg, the S&P 500 and Nasdaq contracts were down around 2%.
IG Asia Pte strategist Jun Rong Yeap spoke to Bloomberg about the Russia-Ukraine conflict, saying it will lead to “more escape moves into safe-haven assets, while the situation will remain volatile with retaliatory measures” from Western powers. »
Fall of cryptocurrencies in Brazil and around the world
According to the Bitcoin Portal, Bitcoin in Brazil fell around 9%, trading at R$178,483.26. This Thursday (24), several cryptocurrencies are in the red. Are they:
- Saltworks: 9.3%
- Avalanche : 13,7%
- Yeah: 12.3%
- XRP : 11.2%
- Dogecoins : 15,6 %
- Shiba Inu: 13,2%
This is quite a difficult situation for Ukraine and for the world scene. Share with us your opinion on this conflict.