How has the proposed ban of crypto currency in Russia affected the price of bitcoin?

[Sincerem]

There has been so many tensions around the world concerning the use of the crypto currency and other crypto currency related transaction and its effects on the economy of various states and regions in the world. As the crypto currency became widely known around the world leading to it adoption by some states as a legal mode of performing buying and selling transaction.


With the recent success of the crypto currency there are still some states that are still proposing to ban the use of crypto currency in their states. China became the first major economy to ban the use of crypto currency and other major economies are queuing to follow suit.


Most recently the Russian states has also proposed to ban the use of crypto which led to a slid in the price of Bitcoin and other crypto currency.

would this pose to be a great threat to the future of the crypto currency? Drop your opinions down below let's share ideas.

 

[HayKay]

I don't think this would have a major effect on the price of cryptocurrency in any way because that'll just be a ban on one small part of the entire crypto space which the users there would still find a way around.
Bitcoin has proven over time to bounce back and better from dips.

 

[Sotherefore]

The price of cryptocurrency is on the low site, It is believe that because of the regulation of cryptocurrency by the Russian government , that is why the price of cryptocurrency is going down. For me I don't believe it has serious effect because it was only regulated .

 

[Lens]

There are lots of events taking place in the cryptocurrency circle. The events unfolding looks very funny at times. Many countries are planning to adopt cryptocurrency while some are proposing a ban option.

 

[Ononivami]

Russia is a a whale and it will most definitely affect the global cryptocurrency market. This often happens whenever the whales pulls out their crypto holdings.

 

[Lens]

The proposed ban of cryptocurrency in Russia will definitely not take place again. The US have blacklisted all the sources that Russia could use to get access to funds. So, the only option I'd cryptocurrency.

 

[Syldan]

That was or is avery bad experience and it had affected the price of bitcoin so badly. It experience a drastic fail in the value of bitcoin, as a result of low rate of investment or lack of investors.

 

[Lens]

I don't think that the ban of cryptocurrency in Russia would cause a significant impact on the price of the cryptocurrency but the ongoing war may affect cryptocurrency.

 

[Setho]

Russia has the second highest Bitcoin mining hashrate in the world and as such anything negative is going to cause a very detrimental drop in the price of cryptocurrency. This is definitely not a good news .

 

[Syldan]

Actually the proposal ban of cryptocurrency in Russia has affected the value of cryptocurrency in the market. Because to some extent it's believe that when Russia ban, other countries will also banned the operation of bitcoin in their own country.

 

[Sotherefore]

Banning of cryptocurrency anywhere in the world will definitely affect the price of cryptocurrency, but now I don't really know what this affecting the movement of cryptocurrency now that all coins are going down.

 

[Syldan]

The proposed banned of cryptocurrency in Russia had so much effect on the value of crypto and I believe if such happened in any country of the world, the value will definitely be affected.

 

[Bookwormlux]

The war has caused the price of Bitcoin to go high , and a lot of people were really happy because it enables them to recover from the losses they made in the past months .

 

[Chibson]

there is no doubt that the crisis going on between Russia and Ukraine is going to affect the crypto-currency market heavily and it has already done so but crypto will definitely recover. When the Chinese put a ban in cryptocurrencies the price went down and at a certain stage, bitcoin also went to all time high.

 

[Syldan]

Actually the proposed banned of cryptocurrency in Russia, had caused so much tension and fluctuations in the value price of cryptocurrency around the world. It May's the value to be much more high than ever.

 

[Ononivami]

The Russian government have taken to cryptocurrency as the only option to fund the war it embarked on . The crypto is the decentralised means of getting money across to the troops.

 

[Lens]

Russia is no longer banning cryptocurrency. Infact cryptocurrency has been very useful for them during the war. They have been able to use cryptocurrency as funding sources.

 

[tyrim88]

I don't think they can do that at the moment,owning to the current situation they found themself,because the decentralise form will definitelly help them to do transaction in the various platform the can access.

 

[RG5]

Well if we looked theoretically you can bypass any restrictions on buying and selling cryptocurrencies. Ideally a privacy currency like Monroe is not a public crypto like Bitcoin. In many places, Bitcoin has been labeled as a stateless currency given the current situation around the world with such high volatility.

 

[James]

It doesn't make big difference as Crypto markets are totally different than normal share trading markets and we all know Russia recently banned many minors in past so they already have effects on them recently.