A world without peace – Between 3 a.m. and 4 a.m. French time on February 24, 2022, the Russian President Vladimir Poutine announced that it had launched a “special military operation” in Ukraine. Faced with the geopolitical earthquake, all the financial markets fell into the redand the courses of Bitcoin (BTC) and cryptos were no exception.
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Fear, uncertainty and doubt at their peak in Ukraine
In the cryptosphere, the term FUD (fear, uncertainty and doubt) is well known. Although it is quite often used to denounce a exaggeration in bearish fears on an asset, this is unfortunately not the case today.
With price charts, we don’t need to check news from news sites to know At what time President Vladimir Poutine formalized Russian military operations in Ukraine. As we can see from the course of the Bitcoin against the US Dollar below (15 minute candle), the news fell around 3h45 in the morning, causing a first stall immediate price.
Oscillating around the $37,000 prior to the martial announcement, BTC price quickly fell below $36,000, before continuing to rise tumble down to a low $34,330 when Europe woke up to war, around 6:30 a.m.
As of this writing, Bitcoin’s price has struggled back above $35,000. The looming uncertaintyat least for the next few days, probably for weeks (or even worse), risks strengthening the bearish sentiment ambient.
Although the universe of Bitcoin and cryptocurrencies is of course not directly related to the Russian-Ukrainian conflict, their use by belligerents of both parties was very real. A recent report by the company Elliptic has indeed shown that bitcoins and cryptos have unfortunately served to “finance the war by crowdfunding”.
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