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

[Sotherefore]

Russia as a country has high population of people and so many investors, if Russia has to banned people from dealing with cryptocurrency I don't see any reason why this may not have a negative impact in the price of all coins.

 

[Sincerem]

I concur with your statement. Several organizations posing as mediators have allowed themselves to be muddled up in this dispute, which has led to the separation of more factions as opposed to uniting the two nations.

Exactly. The United Nations at the one that supposed to rise and organise a peace talk. I know sometimes they could try to but it may not work due to the fact that most of these countries are not really in good terms with each other.

 

[Bigron]

Exactly. The United Nations at the one that supposed to rise and organise a peace talk. I know sometimes they could try to but it may not work due to the fact that most of these countries are not really in good terms with each other.

You have spoken facts, without a shadow of a doubt. Other prominent entities such as the North Atlantic Treaty Organization, also known as NATO have added more fuel to the fire with regard to the impasse between the two nations

 

[Sotherefore]

Banning of cryptocurrency in any country that once dealt with cryptocurrency will have an effect in the whole cryptospace , surprisingly I didn't know that Russia has banned its citizen from dealing with cryptocurrency sometimes ego.

 

[Eli342]

From my point of view Russia will be able to purchase bitcoin very soon because it has reportedly purchased a significant amount of cryptocurrencies, particularly bitcoin, to hold. They need to fix certain economic problems brought on by the war, and bitcoin can help.

 

[Bigi_]

Cryptocurrency prices are low. Cryptocurrency prices are believed to be falling due to the regulation of cryptocurrencies by the Russian government. It's just been regulated, so I don't think it will have a serious impact.

 

[Eli342]

The initial goal of the Russian government is to outlaw cryptocurrencies. Later, they decided against it after thinking about how the cryptocurrency would come in handy for them during the fight.

 

[Nomad]

It is believed Russia sold oils for BTC because of US and Europe sanctions. This helped Bitcoin remain afloat in 2022 and it did not go terribly low in 2023. Russia is considering to adopt Bitcoin or at least bring some softer rules.

 

[Sincerem]

You have spoken facts, without a shadow of a doubt. Other prominent entities such as the North Atlantic Treaty Organization, also known as NATO have added more fuel to the fire with regard to the impasse between the two nations

The NATO is an organisation that has been established by different countries, they are helping Ukraine to stand their position in the war front but at the same time if this war continue it is still the Ukraine that will still be the one experiencing the greatest casualties. Organising a peace talks is the only way to stop destruction of life and property.

 

[Skysaint]

I don't think I noticed any effect and even if I did, I think it was actually for the better because I could notice that the cryptocurrency market was actually doing fine during their proposed war which was contrary to what I had expected.

 

[Genie01]

Russia doesn't contribute significantly on the price of Bitcoin according to demand and supply. The effect wasn't massively felt in the cryptocurrencies market because most of the large funds investors are not from there.