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

[Ononivami]

The thread was created long ago and I think that Russia has now accepted to use cryptocurrencies . It is now a very useful instrument for them in the time of war. It's very useful.

 

[Setho]

Russia is one of the biggest players in the cryptocurrency industry. They have the second largest miners hash rate and then search any kind of negative news is going to affect the cryptocurrency industry.

 

[Syldan]

Actually the proposed ban has affected the market of cryptocurrency in different ways the value of the coins actually dropped because there was low demand and less investors at the moment.

 

[Setho]

Russia is where a lot of cryptocurrency miners are residing and this has created a lot of doubt in their minds. This explains the high amount of transaction fees that we have been seeing in the past couple of days.

 

[Busybee]

Bitcoins have already proved their strength against the ban proposed by China. That is the power of decentralized finance. No country can exercise its power over these crypto coins and networks. Bitcoins provide a safe alternative to traditional banking and are safe and reliable against geopolitical tensions. So I don't think Russia's proposed ban wouldn't have any negative impact on Bitcoins.

 

[Setho]

Russia is one of the biggest palace in the world and I thought if they are fully invading another country then there's definitely going to be uncertainty and that is why price reacted.

 

[Smiles20]

If it eventually turns out that this news is true then it is going to be a very heavy blow for the whole cryptocurrency community because Russia currently has the second biggest community of miners.

 

[Ononivami]

Russia didn't ban cryptocurrency anymore. The ban of cryptocurrency is a very big issue in Russia. If it as banned cryptocurrency, it will be very hard for it to use it as sources of funds in the time of war.

 

[Sincerem]

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 .

That's true mate, so what do you propose would be the best strategy for a Crypto currency trader to employ at the moment seeing that the price of the crypto currency would drop due this ban.

 

[glitch]

It goes up and down, nothing has changed. I don't think much will. I think we will see bigger gains and changes in 2023. I can see Bitcoin reaching 100k next year.

 

[zelalem]

Cryptocurrency prices are low. Cryptocurrency regulations by the Russian government are believed to have lowered the price of cryptocurrencies. It's just been regulated, so I don't think it will have any serious impact on me.

 

[Lens]

The European Union banned the Russian government from all financial services. He only option for the Russian army to get fund was through cryptocurrency. This tells you that Russia didn't ban cryptocurrency.

 

[Bookwormlux]

It has gone a long way to make the price of Bitcoin to shoot in price, and that is a major reason why a lot of course I'd be happy about the current situation because that help us recover our losses.

 

[Lens]

Russia have repented from banning cryptocurrency because they knew that it would be useful in the times of war. And that is exactly what save them because of the sanctions the received from European Union.

 

[Lens]

The time in Russia on cryptocurrency it's not the best thing to do for the country that is on the verge of going into war and it will be the best thing for them to adopt because of financial sanctions that is ongoing.

 

[Lens]

The proposed ban of cryptocurrency in Russia has been reversed because of they saw thar the crytpocurrency adoption will be useful during the war and after the war.

 

[Ononivami]

The Russian government has had a rethink and they no longer wanted to ban cryptocurrency because it would be beneficial to them and it has been very beneficial to them.

 

[Lens]

The Russian government to not ban cryptocurrency because the trip to has been of great use of them in the time of war and I don't think they will take that rash decision.

 

[Gandiba]

It brought some light into crypto currency Because we got to see their prices going higher and higher ever since then. I believe there would be more good news to favour the market.

 

[Ezekiel]

Once any country banned the usage of any thing especially if the thing has to do with business, definitely it will affect the general market because there must have been decrement in the number of investor from that country.