Bitcoin price fell to its lowest price in a month after Russian forces began invading Ukraine . The world’s largest cryptocurrency is down 8%In one day to the price of 34.324 US dollars with the decline of its competitorsEthereumAndSolanaAndShiba Inuup to 10%. He witnessed the impact of the war in Eastern Europe in the disappearance of $160 billion from the cryptocurrency industry in Within 24 hours only.
Economist Dr. Jassim Hajji said cryptocurrencies are not the only investments that have lost value this week . Where the index fellStoxx600 European by 2.6%After the opening, while analysts expect a decrease of 7%atS&P500. Early 2022 saw allegations thatBitcoinIt was “digital gold” – which means a solid investment hedge during current periods of economic inflation. . However, the Russian-Ukrainian crisis has proven that this is not the case. Cryptocurrencies declined with the macroeconomic conditions. But will the cryptocurrency industry always be this way?
The price of the Bitcoin token suddenly dropped from nearly $39,000 to $34,529 in the space of 24 hours as Russia began launching land and sea attacks on Ukraine. Of course, you weren’tBitcoinThe only economic victim of the outbreak of war in Europe. Global stocks and US bond yields also fell. However, despite claims that Bitcoin was the new “digital gold”, it has fallen The value of the cryptocurrency is higher due to oil prices, but the value of the dollar and real gold has skyrocketed. And