Cryptocurrency Prices Soar On Possibility Of -e Talks

[Bitcoin]

Cryptocurrency Prices Soar On Possibility Of -e Talks

Cryptocurrency prices climbed late Friday after  agreed to talk to ian officials regarding the n invasion of e.

According to ian presidential advisor Mykhailo Podolyak, who spoke to Reuters on Friday, e wants peace and is willing to engage with  about its neutral stance with regard to NATO.

n Foreign Minister Sergei Lavrov said Friday that  would be open to discussions with e, but only if e’s troops had put down their weapons.

“Neo-Nazis” should not be in charge of e, Lavrov stated.

After n President Vladimir Putin unleashed a full-scale air assault and ground attack, n missiles and artillery rained down on ian cities on early Thursday.

While this was going on, investors throughout the world were scrambling to make sense of the geopolitical shifts. Even though ’s ruble was at its worst level on record, the S&P 500 stock index surged more than 2%.

Total crypto market cap at $1.738 trillion in the daily chart | Source: TradingView.com

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Cryptocurrency Prices Up

Bitcoin trailed other alternative cryptocurrencies (altcoins) in the crypto markets on Friday, suggesting that investors have a higher tolerance for risk and expect cryptocurrency prices to take a beating.

Ripple’s XRP and Terra’s LUNA token both rose in value by 10% in the last 24 hours, while Bitcoin has remained relatively unchanged.

Some cryptocurrency investors believe that the price rebound will continue because of the recent volatility.

The expected volatility of Bitcoin’s price for the next week increased by 75% on an annualized basis. CoinDesk’s Omkar Godbole said that the cryptocurrency’s inverted volatility structure generally precedes price bottoms.

Volatility implied by investors refers to the expectation of price fluctuation over a specified time frame that they have set.

United Nations Security Council members are expected to vote on a critical resolution on the n military action in e this week.

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e’s President Volodymyr Zelenskyy has claimed that the sanctions imposed on  are not adequate to stop n military actions in e.

He went on to say that they are protecting their nation alone.

For the 44 million people living in e, Putin’s claim that their democratic country is an illegal state carved out of  is an attempt to erase their country’s more than a thousand-year history.

The West has launched a slew of measures against , including the blacklisting of n banks and the prohibition of technology exports. Instead of kicking it out of the SWIFT system, they’ve opted to leave it in.

Rating agencies S&P and Moody’s lowered ’s rating to “junk” status, and S&P and Fitch quickly downgraded e’s rating on default concerns following the invasion.

According to data gathered by CryptoQuant, Bitcoin’s buy volume to sale volume ratio has been somewhat higher over the past 24 hours, showing positive sentiment among traders.

Featured image from Review Geek, chart from TradingView.com

Source: Cryptocurrency Prices Soar On Possibility Of -e Talks