The War has been started with Russia and Ukraine. Day 1 and my crypto balances have taken a huge hit. How do you think this will continue to affect crypto values as the war progresses?
Russia/Ukraine war affecting crypto
- Thread starter C.Grigg
- Start date
Today some Cryptocurrency prices started to rise from the correction zone, following the stock market prices of the United States and Asia. This price increase was mainly driven by market prices that were disrupted by the Russia vs Ukraine war and economic sanctions from the United States and the European Union.
This is something casual as the price of crypto is following the international economy and news then this is something expected from crypto to be rising after the war.
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The war might have an opposite effect on cryptocurrency. With all the economic and financial institutions sanctioning Russia, while crypto is still open, many will look to it as an alternative.
This may also help cryptocurrency as more people will realize how helpful it can be in cases of emergency where traditional banking institutions can't function.
This may also help cryptocurrency as more people will realize how helpful it can be in cases of emergency where traditional banking institutions can't function.
- Thread starter
- #5
I have finally begun moving my balance from Robinhood to a personal wallet that I actually own my keys to. My wallet on Robinhood was activated yesterday so we are allowed to make 10 transactions per day or $3000/day. So this will take me a little while to transfer everything. This is in case Robinhood gets sanctions.
I think it will result in the surge around the cryptocurrencies. The war have made cryptocurrencies very useful because both countries are now using cryptocurrencies as sources of funds.
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Everything is predictable in this war as a result of subsequence the war could have benefits for some people who want the crypto price decreasing while others require crypto prices increase.
I also think in the same direction as you. The need for cryptocurrency is on the increase at the war zone. Most especially when the traditional banks are not functioning in full capacity.
I think the only impact that the war would have on cryptocurrency is a positive one because it will griw very fast at a very fast rate
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This is a very correct motion because the need for fund will become very high and that is when the need for cryptocurrency will arise.
The cryptocurrency has been very beneficial to Russia and Ukraine in the time of war because it was the only source that they could get external funds most especially for the Russian army that are restricted from financial transactions.
The Russian army could only get funds from external sources via cryptocurrency, most especially they use the Bitcoin because the European Union imposed sanctions on their financial system.
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The major reason why the Russian army resort to receiving funds in cryptocurrencies is because the funds sent through cryptocurrency cannot be traced and so the sources are not known.
The decentralized nature of cryptocurrency made it very possible for the Russian army to receive funds from external sources without being traced.
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The decentralized nature of cryptocurrency made it very possible for the Russian army to receive funds from external sources without being traced.
This is why cryptocurrencycurre is very important in times of trouble. The Russian government were in serious financial problem but cryptocurrency came to rescue. This shows the level of importance one should accord cryptocurrency.
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One of the reasons for the crypto fall in 2022 was the way. The war is still going strong. Until the war stops and the economy comes to the track, I think crypto market will also not improve.
Their war is not just affecting cryptocurrency but it is affecting the world's economy.
It affected even the big countries
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