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

[Kelly5]

I don't see Russia ban on cryptocurrency as a major threat to the cryptocurrency space. They are not even one of those counties one would call a large user of cryptocurrency. So wether they ban it's use in their country or not, it is not going to be of any significance to cryptocurrency globally.

 

[joy101]

I don't really think that the cryptocurrency ban in Russia can affect the price of Bitcoin in the country, because there is nothing to do with the ban about cryptocurrency can affect the price.

 

[Chibson]

I don't think Russia can buy bitcoin anytime soon because there was a report that they have bought so much cryptocurrency especially bitcoin to store. Due to the war they have some economic issues that needs to be solved and bitcoin can be of help to them

 

[Smiles20]

Russia is one of the largest countries in the world and also one of the biggest mining zones and that is why any negative news that is coming from here is negative for the price of crypto.

 

[Ononivami]

The Russian government has the plan to ban cryptocurrency initially . Later they consider the fact that the cryptocurrency could be useful for them during the war and that is why they repented form their decision.

 

[Robust]

Well i can believe that it was the improper ban of cryptocurrencies in Russia that really affected the price of cryptocurrencies markets because it was from that time that cryptocurrencies marketing started dropping.

 

[Shigobad2020]

Due to the impact of war between Russia and Ukraine , the price of crypto currency has been negatively hit and the price of crypto currency coin has started dropping since then .

 

[Gandiba]

It affected the price of Bitcoin and I think it's in a negative way. This is due to the fact that we've been unable to come out of the dip caused by the effect of this war.

 

[Good-Person]

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.

I guess that Russia and cryptocurrencies have a deep relationship. Just like the United States have a deep relationship with cryptocurrencies. The value of cryptocurrencies dropped when Russia announced war against Ukraine and the value also dropped when they (Russian Bank) were planning to ban cryptocurrencies.

 

[Sincerem]

I guess that Russia and cryptocurrencies have a deep relationship. Just like the United States have a deep relationship with cryptocurrencies. The value of cryptocurrencies dropped when Russia announced war against Ukraine and the value also dropped when they (Russian Bank) were planning to ban cryptocurrencies.

I believe it has a negative impact in the price of cryptocurrency . It could absolutely be the reason why the price of all cryptocurrencies are down. The war that is happening is also a factors to be put into consideration when determining the downtrend of all crypto coins presently

 

[Danny4cash]

The future of cryptocurrency is not sure with some policies some countries of the world are making recently. A lot of counties are proposing it's ban and some are weighting it's advantage and disadvantages so as to make a decision. There's now how Russian proposed ban will not affect it's price.

 

[Setho]

I am beginning to believe at this point that there are a lot of people who are just trying to manipulate the market because every now and then it is always Russia that is doing one or two things to bring down the price of crypto.

 

[Potuse]

In the first instance the Russian government have the plan in agreement with the finance minister in Russia to use bitcoin as a legal tender for cross-border transactions. This is to show that the Russia is a lover of Bitcoin

 

[Smiles20]

You just have to understand that any negative news that has to do with cryptocurrency that is coming from any of the top world countries is going to massively affect the price.

 

[Ononivami]

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 .

The price as crushed now and it is a thing of concern because so many investors have been lost huge amount of money into cryptocurrency investment. We don't know the way forward right now because everything looks clumsy.

 

[Yohanna]

I do not think that Russia crypto users add up to a significant percentage in the Bitcoin network. There a very minute percentage of people that are holding Bitcoin and I do not think that the ban of cryptocurrency in that country would have any significant effect on the Bitcoin market value.

 

[Chibson]

Currently, I think Russia is no longer considering restricting bitcoin from their country because of the current economic situation. They are even looking at it as a way to solve the problem in their country

 

[Bigron]

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.

It is quite evident that the situation between Russia and Ukraine will have an immense impact on the cryptocurrency market, and it has already done so, but crypto will recover. Other countries have also banned bitcoin and the cryptocurrency has still risen above all the odds so this may not be an exception

 

[Sincerem]

It is quite evident that the situation between Russia and Ukraine will have an immense impact on the cryptocurrency market, and it has already done so, but crypto will recover. Other countries have also banned bitcoin and the cryptocurrency has still risen above all the odds so this may not be an exception

That is just the thing , it is not only one country that can determine the movement of cryptocurrency. There are so many things that can affect the price of cryptocurrency either positively or negatively.

 

[Bigron]

That is just the thing , it is not only one country that can determine the movement of cryptocurrency. There are so many things that can affect the price of cryptocurrency either positively or negatively.

That is true, the cryptocurrency market is dependent on numerous factors and its rise and fall can be predicted by experts which helps traders quite a lot