Frankfurt The increasing nervousness on the financial markets is noticeable in cryptocurrencies. Bitcoin, the oldest and most important of the now almost 17,500 cryptocurrencies, fell below the $40,000 mark on Friday evening. Over the weekend, the cybercurrency extended losses and fell as low as $38,185.
Given the threat of a Russian invasion of Ukraine, investors are currently turning to perceived safe-haven asset classes. Digital currencies, which many investors place in the speculative area, then come under pressure. “Nobody wants to be caught on the wrong foot in the event of a military escalation,” says market analyst Timo Emden, founder of the analysis company Emden Research. In the event of a military escalation, prices on the financial markets worldwide might collapse, which might also hit the crypto market hard.
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