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

[Sincerem]

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

An expert can predict if a particular cryptocurrency will be down or not but most importantly that doesn't make the prediction to be a hundred percent accurate it can go completely the other way around.

 

[Bigron]

An expert can predict if a particular cryptocurrency will be down or not but most importantly that doesn't make the prediction to be a hundred percent accurate it can go completely the other way around.

This is very true and experts can only predict but there can never be absolute certainty on their side. It would be very naive to believe these experts wholeheartedly and operate purely based on their predictions

 

[Laurentta]

Yes, the proposed ban on crypto currencies on Russia have affected the price of crypto currencies especially bitcoin. This is because most people believe other countries will also ban crypto currencies.

 

[Setho]

Russia is definitely among the top five biggest countries in the world so if they are going to ban anything you are definitely going to know that the price is going to tumble

 

[GoldenLady]

This has come at a bad time when inflation is on the rise. Currencies are being hit hard, prices of items especially gas has been rising and Russia is one if the main exporters.

People are reluctant to invest so this could probably prolong the low price of Bitcoin.

 

[Bigron]

This has come at a bad time when inflation is on the rise. Currencies are being hit hard, prices of items especially gas has been rising and Russia is one if the main exporters.

People are reluctant to invest so this could probably prolong the low price of Bitcoin.

This is an accurate point you have raised. The Russia-Ukraine war is definitely a contributing factor in the drop in Bictoin value, especially against the backdrop of Russian bitcoin wallets being revoked.

 

[Imran_Noori]

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.

Banning crypto in some countries may cause it's price to fall but it will never affect it's fundamentals because Bitcoin is something decentralized and difficult to defeat.

 

[frederick_9]

The Russian government's regulation of cryptocurrencies is thought to be the cause of the declining price of cryptocurrencies, which is why it is on the low site.
Because it was just regulated, in my opinion, I don't think it had a significant impact.

 

[Sincerem]

Banning crypto in some countries may cause it's price to fall but it will never affect it's fundamentals because Bitcoin is something decentralized and difficult to defeat.

That is true , but what of a situations that all the world leaders of most countries decide to ban cryptocurrency . At this point then the main purpose of cryptocurrency will automatically be defeated.

 

[Sotherefore]

Russia is a very huge country and has a lot of influence around the world. If they have to banned cryptocurrency as they did . This must have in one way or the other have an effects negatively in the price of all cryptocurrency.

 

[Joseph555]

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.

 

[nana kwasi]

It all relies on the individual, who may have reasons for not concentrating on cryptocurrencies. I personally invest in another little potential coin instead of bitcoins for the long run.

 

[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.

The ongoing situation involving Russia and Ukraine will absolutely have a significant impact on the cryptocurrency market but I have every confidence that it will eventually pass due to he volatility of crypto

 

[eenya00]

i do not believe the impact would be huge as crypto currency is decentralized and it is not controlled by any central government, so it would not have a great impact on crypto currencies.

 

[Sincerem]

The ongoing situation involving Russia and Ukraine will absolutely have a significant impact on the cryptocurrency market but I have every confidence that it will eventually pass due to he volatility of crypto

I also thought as much , the situation has affected so many countries negatively most especially UK and other countries that solely rely on Russia for oil and gas supply.

 

[Bigron]

I also thought as much , the situation has affected so many countries negatively most especially UK and other countries that solely rely on Russia for oil and gas supply.

This is an accurate assertion. The countries which have imported commodities and goods from Russia have been hit hardest by the ongoing war due to the desire of the Russian government to keep their products in-house

 

[Sincerem]

This is an accurate assertion. The countries which have imported commodities and goods from Russia have been hit hardest by the ongoing war due to the desire of the Russian government to keep their products in-house

That's just the reason and most of these countries do not support what Russia is doing and because of that Russia are being forced to cut of the rate at which they sales to this countries.

 

[Bigron]

That's just the reason and most of these countries do not support what Russia is doing and because of that Russia are being forced to cut of the rate at which they sales to this countries.

A large majority of the globe does not concur with the war Russia is undertaking, so this, in turn, has forced Russia to suspend the exportation of commodities to other countries which could have boosted their own economy.

 

[Syldan]

Actually the proposed banned of cryptocurrency in Russia will definitely affect the value of bitcoin simply because there will be less demand and definitely the value will fall.

 

[Sincerem]

A large majority of the globe does not concur with the war Russia is undertaking, so this, in turn, has forced Russia to suspend the exportation of commodities to other countries which could have boosted their own economy.

I don't know , but I believe that the Russian government should call off the war because there is no benefit of this continue for a long time . It will only leads to destruction of life and property