● Bitcoin falls to 6 months low on Ukraine conflict fears
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World largest cryptocurrency, Bitcoin falls to six months low as Ukraine conflict fears shake market. The coin currently trades down 7.4% at $33,650 which is its lowest since July 24, 2021. It is taking losses from its all time high $69, 000 hit in November 2021 which is more than 50%
Other cryptocurrencies including ether also fell 11% which is $2,253 being its lowest since July 18, 2021. Russia Ukraine conflict caused shares to dwindle across the world. America had earlier warned Russia for Ukraine’s invasion
President of Horizon, a firm in charge of security exchanges, Mark Elenowitz said Bitcoin will face headwinds going back until there is stability.
“Bitcoin will face headwinds going back until the macroeconomic conditions change. Generally speaking, when rates are hiked, we could see more sell-offs seemingly risk on assets like bitcoin
There is Russia military build up on the borders of Ukraine. All NETO alies have warned to join the United States as Russia continues to threaten the people of Ukraine