Topic: Bitcoin and international conflict - page 3. (Read 605 times)
When I started with Bitcoin years ago, I was under the big assumption that Bitcoin is a safe haven especially during time of chaos and problems of great magnitude. When the pandemic started, Bitcoin actually made a heavy slump though it eventually recovered. So maybe it is possible that at the start of any conflict Bitcoin can take the hit but as time goes on it can be immune to that conflict and would be starting to rise again. We have to remember that Bitcoin can never be confiscated by any governmental power and it is number one choice on this aspect and because BTC is having a dip right now getting into it is really an attractive proposition but of course am not referring to the money that you are supposed to be using for your daily survival especially if you are in Ukraine.
I think it was a "Safe haven" until the large institutional investors started to invest in Bitcoin.. then things changed slightly. You see... it only takes one spark to ignite a fire... and these institutional investors panic selling is just the spark that are needed to trigger a dump of more coins from other traders.
They suddenly sell a large quantity of bitcoins on exchanges and the bots goes in overdrive... because they were configured to protect the traders. So you get a ripple affect in the pond and the small ripples ..turn into waves.
They suddenly sell a large quantity of bitcoins on exchanges and the bots goes in overdrive... because they were configured to protect the traders. So you get a ripple affect in the pond and the small ripples ..turn into waves.
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Why is bitcoin losing value at a time of conflict? Isn't it intended to do the opposite?
Pretty simple, if you're from a region that has conflict, you're better off with fiat than bitcoin so you trade that bitcoin for fiat and hopefully it would be enough for you to survive for awhile at least until the aides and help come which might take a long time because in a war, most resources are focused on offensive and defensive efforts of the country.So, Bitcoin wouldn’t really be of much use to anyone that is in such position, so they would prefer to sell all the bitcoins or most of the bitcoins that they have if not all, so that they can have more cash to deal with whatever problem that they might encounter during that moment.
It is clear to me now that the fate of Cryptocurrencies during large scale events has been decided. And they are definitely not considered a safe haven.
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Regards,
PrivacyG
Same idea. I still think bitcoin is a pretty safe haven. but yesterday's conflict has turned the whole market a red. we always compare bitcoin to gold, but maybe not now. Bbitcoin needs more time to show itself, maybe when bitcoin price hits 400k$ -500k$. Only then can bitcoin be considered a safe haven. -
Regards,
PrivacyG
I am not clear what impact international conflicts have on BTC price. We saw increase in BTC price after USA killed Qasem Soleimani an Irani general on 3 January 2020. At the moment BTC prices are not going up due to Ukarine and Russia conflict. It may be because BTC price has already gone so up in last one year that there is not much room for further expansion.
Just my own thoughts.
Just my own thoughts.
Pretty simple, if you're from a region that has conflict, you're better off with fiat
Actually in case of that what you need is food and shelter because neither fiat nor bitcoin are going to prevent starvation or stop bullets. Not to mention that you can't really store large bags of cash in your home because the banking system is going to be the first that will get hit. You can see how Russia performed a large scale cyber warfare against Ukraine over the past couple of days that included hacking their banking system. Meanwhile bitcoin is not and can not be affected by this.
But that doesn’t make Bitcoin any less important, they are all good, and I don’t really think it is that much necessary for anyone to be selling their Bitcoin unless maybe you do not have much money in your bank account and you feel that you need to sell some of the bitcoins that you have to kind of cover up for what you are lacking at the moment.
And I also do not think that people would have time to be selling Bitcoin in such a time, their mind wouldn't really be going there for now 'cause they would just be looking for ways to survive and that's it.
Russian President Vladimir Putin abandons a peaceful solution of a dispute with Ukraine, he has announced special military operations in Ukraine. This is a crime against the people of Ukraine and Russia.
The dispute between Russia and Ukraine has had an impact on bitcoin and other cryptocurrency. Referring to CoinMarketCap data, bitcoin price is at $35,757 or down (-7.3%), Ethereum is also following in bitcoin footsteps, Ethereum price is down (-9.3%), Avalanche (-12.8%), Cardano is also down (-13.7%) and there are several other crypto assets that have experienced a decline due to Putin announcing special military operations in Ukraine.
The drop in cryptocurrency prices could still get back on a good track in the near future, Our main focus is not on the market, but on everyone in Ukraine right now. We sometimes forget that there are people who live in situations squeezed by the effects of a war, ranging from the risk of killing innocent people, misery to world stability disrupted by a war.
So I think we should put aside all about the market "even though some people think it's important". Let's pray that God will give safety to everyone there.
The dispute between Russia and Ukraine has had an impact on bitcoin and other cryptocurrency. Referring to CoinMarketCap data, bitcoin price is at $35,757 or down (-7.3%), Ethereum is also following in bitcoin footsteps, Ethereum price is down (-9.3%), Avalanche (-12.8%), Cardano is also down (-13.7%) and there are several other crypto assets that have experienced a decline due to Putin announcing special military operations in Ukraine.
The drop in cryptocurrency prices could still get back on a good track in the near future, Our main focus is not on the market, but on everyone in Ukraine right now. We sometimes forget that there are people who live in situations squeezed by the effects of a war, ranging from the risk of killing innocent people, misery to world stability disrupted by a war.
So I think we should put aside all about the market "even though some people think it's important". Let's pray that God will give safety to everyone there.
Russia has been preparing for this for years. Dropping the US Dollar and stacking gold for the last couple years. Bitcoin will recover, as will all assets, eventually. My hedge against economic collapse is bitcoin and bullion. The WSS subreddit is trashing on Bitcoin but as they say, when in doubt zoom out.
Such a situation that is developing in Ukraine threatens not only the price of bitcoin, but also the entire stock market in the world. Oil and gas prices are breaking new records, it seems that prices will continue to rise, as the situation will not magically end. This conflict will last at least 2-3 weeks until the Russians clean up the mess and settle down. So you need to wait, carefully monitor the course and buy at the very bottom. And then, as usual, to the moon! 
Following the news of the conflict, we saw a wide range of markets reacting clearly, bearishly forewarned as threats of conflict loomed. I also do not feel surprised when the price of many things in many areas reacts strongly in the near future. In some countries, physical gold has increased sharply. I think many people have begun to fear and seek attention for better hidden assets in their opinion.
Why is only Bitcoin mentioned going down? I think all assets are also disabled due to this conflict. Nothing is completely safe because the only supplies for survival in wartime are food, drink, clothing, and medicine. Then the automatic withdrawal of fiat money is used to purchase the equipment. And the panic that ensued had an impact on all countries. But there is one thing holding back gold is now rising in price, Ukraine and Russia are heating up and this conflict is still ongoing so the price is certain to stay below $35K. No one knows how long this will last but the whole thing really spoils the value of the investment.
Currently theres a conflict with the two countries Ukraine and Russia because of this the economic right now is going down they must need to use most of those funds to funds their war if this will continue large handlers of investment will pull their assets to prevent more losses and of course, another way of the market to pulls down again. Economic is another factor for the bitcoin to the people who live to those places hoping to keep safe.
I believe countries is not focusing on war funds right now especially Russia. They are prepared for this and there's no way there currency has worth right now globally due to bunch of economic sanctions they received all over the world right now. The global market down is highly due to speculation of traders against war in Ukraine which will result on oil price hike due to increase in demand.
This war supposed to be not affecting cryptoarket since the war is an isolated case. Only Russian Market should be plummet down at this moment, But since traders has different perspective on war then they are selling just to play safe
Honestly, in such conflicted situation human mind can not bend to the extreme dimension. For example one May think that lets transfer the money into bitcoin, flee the country and get settle somewhere else safe and free. However these thing does not work as simple as that ? With such conflict thing Ukraine may halt the crypto operations, may not give visa to flee the country. In addition to this they simply can’t live in other countries as they will need to start over. It’s very bad situation though. It’s example of failed economic system. Moreover, it’s peeps who should really fight back by implications of crypto currency.
Currently theres a conflict with the two countries Ukraine and Russia because of this the economic right now is going down they must need to use most of those funds to funds their war if this will continue large handlers of investment will pull their assets to prevent more losses and of course, another way of the market to pulls down again. Economic is another factor for the bitcoin to the people who live to those places hoping to keep safe.
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Why is bitcoin losing value at a time of conflict? Isn't it intended to do the opposite?
What I believe:
It depends on your perspective, whether short- or long-term.
Bitcoin is not and has never been immune to short-term hysteria.
Bitcoin benefits in the long run from efforts to shut out whole countries from the international correspondent banking system.
Obviously, I am on the side of the excluded, i.e. the misfits. My good buddies are all financial misfits!
How do you feel about this?
Yeah I personally would pretty much side with everything you’re stating here. If one wants a true hedge, then they need to purchase gold or other precious metals. Bitcoin is still a very new asset and it’s going to take some time for it to become a true hedge asset. In the long run I certainly see it becoming that. My two anyhow.
Indeed, crypto is really not immune to worldwide scenarios be it good or bad. And yes, in the long run, depending on the "hysteria" the whole crypto industry benefits a lot or a little bit. Maybe it's because of the innate desire of people for freedom and the addiction for the hopium that the cryptos will make people rich. Not to mention the fact that lots of doors have opened for the majority of people who are tired of their usual jobs or doesn't even have one at all.
There can be a lot of reasons but one thing is for sure tho, bitcoin along with this entire industry will continue to flourish despite the drawbacks in the present and in the future. It has already spread its roots deep enough that it would be impossible to pull it out without having an uproar. At least that's what I think.
There can be a lot of reasons but one thing is for sure tho, bitcoin along with this entire industry will continue to flourish despite the drawbacks in the present and in the future. It has already spread its roots deep enough that it would be impossible to pull it out without having an uproar. At least that's what I think.
Watching news now and seeing the long line of people in Ukraine waiting in their turn to withdraw their money and says their planning to escape their area can be like the mind of the investors at times like this where there is a conflict in a country and crisis facing the businesses and economy, as we see how the stock react and declines now many depends on having cash or securing their investment as there is no definite date when will this war will end and what may happen after the invasion. We cant still say whether the price will continue to decline or not.
The conflict that occurred in ukraine has clearly triggered considerable fear for the people there, and of course this will also affect the economic stability in the country, from some of the media that I read today, many people from ukraine and other citizens who live in ukraine has been starting to leave the country, and looking for a safer place of refuge from the impact of the russian attack, i think now the current conflict has brought negative sentiment to crypto market investors, thus making crypto prices fall like they are today, in my opinion if war will continue, of course, the market may continue to experience a significant decline in the future.
Watching news now and seeing the long line of people in Ukraine waiting in their turn to withdraw their money and says their planning to escape their area can be like the mind of the investors at times like this where there is a conflict in a country and crisis facing the businesses and economy, as we see how the stock react and declines now many depends on having cash or securing their investment as there is no definite date when will this war will end and what may happen after the invasion. We cant still say whether the price will continue to decline or not.
And there should be a cyber attack too.
You know what, I have not even thought about cyber attacks. Yesterday they did say a few areas in Ukraine were left with power cuts and impossibility of communicating through cell while a few important websites did get taken down. It may definitely be a reason for the current panic.On the other hand, take it logically. If you go survival mode due to a large scale war, last thing you would think is of importance is holding on to your dog breed Tokens. It is clear to me now that the fate of Cryptocurrencies during large scale events has been decided. And they are definitely not considered a safe haven.
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Regards,
PrivacyG
As you mentioned it's international conflicts, obviously it will have many impact to almost other sectors not only Bitcoin. It can be either Russian and Ukraine citizens trading Bitcoin, they convert their coins for cash, they can't access their coins due to internet connection etc. However you're right if you're a holder, you shouldn't really worried if you not live in Russian or Ukraine since you can buy every dip of this conflict and keep holding until the market recovered/back again.
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