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How Fears Of A Possible n Invasion Of e Is Impacting Bitcoin

Started by Bitcoin, Feb 17, 2022, 02:09 pm

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How Fears Of A Possible n Invasion Of e Is Impacting Bitcoin

Bitcoin price, in the face of a possible n invasion of e, is shedding 0.7% of its value and is currently trading at $43,352 on Coingecko charts Thursday, retreating from the $47,000 level it hit on January 1.

Ethereum (ETH), the second most popular cryptocurrency also, is also down 2.14% to $2,873.

The world's most valuable cryptocurrencies are on the decline Thursday as news of a possible military action by  on e sends markets into a tailspin.

n Invasion Jitters Jolt Top Cryptos

Bitcoin is losing 3% of its value as Western jitters about n aggression on its neighbor e have grown higher, and worse than the Nasdaq Composite index's 0.9% drop last December.

Even though  is amassing more than 100,000 troops near the ian border, some investors refer to the relative calmness of trading during this period of escalating geopolitical tensions.

rejects western warnings of an invasion as "hypocrisy."

According to BuyBitcoinWorldwide's volatility index, Bitcoin's current 30-day volatility is losing 3.35% of its value; it averages 4.56% back in 2021, although it still has not given up all of its gains from lows of $32,950 two weeks ago.

BTC total market cap at $817.952 billion in the daily chart | Source:
-e Frictions And Its Impact On Crypto

According to reports, United States President Joe Biden held an hour-long chat with ian President Volodymyr Zelensky on Monday to discuss the ongoing tensions.

For his part, US national security adviser Jake Sullivan reiterated his warning of a possible invasion.

Bitcoin and Ethereum fell over 9% to its lowest level in six months as fears of a n strike on e grew.

Globally, the market suffered a drop that extended sell-offs between many investors.

Related Reading |  Just Suggested A Blanket Ban On Bitcoin And Cryptocurrency

Crypto Industry Loses $200 Billion In A Day

Commotions in the cryptocurrency market were also in a roll as  considers banning Bitcoin within their respective grounds.

It's possible that  is being swayed by skepticisms that seem to be sweeping the cryptocurrencies market.

Meanwhile,  is reportedly mulling a total ban on Bitcoin mining and trade, according to its central bank's assessment.

is an important processing hub for Bitcoin transactions because it accounts for around 10% of the world's mining capacity.

Over the previous 24 hours, the cryptocurrency industry has lost $200 billion in market value. Bitcoin's total market capitalization is now at $1.8 trillion.

In the current state of affairs, the vast majority of Bitcoin specialists feel that cryptocurrency and the future of the markets are interlinked at this time.

In the wake of recent events, the value of Bitcoin, Ethereum and Cardano have taken quite a beating.

Related Reading |  Plans To Impound Unlawfully Acquired Cryptocurrencies

Featured image from CoinMarketCap, chart from

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