Bitcoin and Ukraine war - page 3. | Bitcointalksearch.org

dkbit98

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Quote from: Daryl_Dixon on March 07, 2022, 03:46:42 AM

+How many wars have Bitcoin experienced so far?
-Nothing

Wrong. There are many wars happening around the world all the time, just start counting ones that United States started, last one is still ongoing in Yemen but nobody talks about it, than you have four years in Libya, than war in Syria (Russia and US involved), war in Iraq, and maybe some other I don't know.
Israel is in state of war war all the time with surrounding countries and within, and many other local wars happened since bitcoin was created.
I am sure I heard African continent having some conflicts in last few decades.

Quote from: Daryl_Dixon on March 07, 2022, 03:46:42 AM

So it is natural that most people, because they do not know the reaction of bitcoin, turn to other assets such as gold and oil. The escalation of the conflict between Ukraine and Russia will also cause more fear among investors.

It's not only prices of oil that is going up, but food, grain, rice and everything else, including metals like Palladium that are used for manufacturing of microchips (expect new wave of chip shortage).
China stocked up a lot of rice and all other food, so it seems to me they are preparing for next big world war, and I am not sure bitcoin will save us from that.

pooya87

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Quote from: Daryl_Dixon on March 07, 2022, 03:46:42 AM

But the oil situation is quite the opposite. Just look at the price of oil and realize that this war has had a huge impact on the price of oil and safe-haven assets like gold.
But what is the reason for this?
In my opinion, because of the war, most people avoid high-risk assets such as bitcoin and other digital currencies!

I don't think so.
The situation with oil is so much more complicated than that, same with natural gases both of which are rising fast. It is mainly because of the supply shortage while the demand is still high and slightly increasing too.

Quote

+How many wars have Bitcoin experienced so far?
-Nothing

Wrong. There has been many wars in the past 13 years that bitcoin has been around, some of which were so much bigger than the Ukraine conflict and involved a lot more countries. In fact the war in Syria for example is referred to world war sometimes as it involved about 80 countries.

Quote

So it is natural that most people, because they do not know the reaction of bitcoin, turn to other assets such as gold and oil.

I already explained oil situation and for gold you should have looked at the charts before making a statement. Gold got dumped when Russian operation began.

PrivacyG

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Crypto Swap Exchange

Quote from: tomahawk9 on March 07, 2022, 06:11:29 AM

a smart trader doesn't go jumping around from one asset to another asset selling them left and right because of price crashes or sudden spikes.

I definitely agree. But look at Shiba, Dogecoin and GameStop for a minute. See what NFT's did. With enough sheep, you can move a freaking mountain. Apparently even if it's made of crap.

-
Regards,
PrivacyG

darkangel11

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Don't let others control your BTC -> self custody

Quote from: KaliLinux on March 07, 2022, 04:46:23 AM

Secondly, I don't think that this Russian Invasion of Ukraine is really affecting the price of Bitcoin as most are saying. Please take time to look at the price in a bigger time frame instead of hourly or minutes.

It is affecting it in daily moves and volume, but not if you look at the last 3 months as a whole. What is affecting it more is anti inflation policies of various countries (mainly the US) that make the stocks fall. Stock traders balance their portfolios by selling the assets they consider most risky which are cryptocurrencies and this creates some bearish sentiment on the market.
The invasion is also creating some risk for the markets because the price fell when Russians attacked a nuclear power plant. People are afraid of a nuclear catastrophe and such event would be a big hit for all financial markets.

tomahawk9

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Cats on Mars

Quote from: Daryl_Dixon on March 07, 2022, 03:46:42 AM

But what is the reason for this?

In my opinion, because of the war, most people avoid high-risk assets such as bitcoin and other digital currencies!
+How many wars have Bitcoin experienced so far?
-Nothing
So it is natural that most people, because they do not know the reaction of bitcoin, turn to other assets such as gold and oil. The escalation of the conflict between Ukraine and Russia will also cause more fear among investors.

As @Pmalek said above, Russia is a big player in the crude oil market, they are the 2nd largest crude-oil exporter in the world. If one the biggest players in a global market is on its way out of the market because of sanctions, demand of this global commodity will naturally go up. Look at Natural Gas and Wheat prices, exact same story as the crude oil because of Russia and the sanctions.

Quote from: PrivacyG on March 07, 2022, 04:11:32 AM

Maybe it is also that traders are selling Cryptocurrencies to quickly get into Oil investments?

a smart trader doesn't go jumping around from one asset to another asset selling them left and right because of price crashes or sudden spikes.

Lucius

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Quote from: Daryl_Dixon on March 07, 2022, 03:46:42 AM

The bitcoin market has also been affected by growing concerns about Russia's invasion of Ukraine.
But Bitcoin has been falling in the last 24 hours and is currently trading at around $ 37,794.

While people think there should always be a reason why the price of Bitcoin rises or falls, then it would be good to learn to look just a little back and try to explain why the same things happen even when there is no war or any significant negative or positive news? A topic was recently launched in which one member wondered why the price of BTC was rising during the war, and I offered him this answer.

If we look at how the price of BTC has been moving since the beginning of the year, we have at least two sharp falls before this one which is happening now. None of them have anything to do with the war because it didn't exist then, but it also has more than obviously something to do with market manipulation, because someone very successfully regulates the price between $35k and $45 and undoubtedly makes a profit.

Quote from: Daryl_Dixon on March 07, 2022, 03:46:42 AM

But what is the reason for this?
In my opinion, because of the war, most people avoid high-risk assets such as bitcoin and other digital currencies!

Until just a few days ago, all the media said that the crypto market in Ukraine and Russia had exploded and that everyone was buying Bitcoin, and that because of that the price was going up. I wonder what has changed in just a few days - although the answer is more than clear, someone has fallen into the bull trap again, for the third time this year.

sou-kou

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I think now is a good time to increase the position. Russia is already much stronger than Ukraine, and it is not far from the peaceful manhole cover. The opportunity is slowly emerging, and the rising balance is tilting.

KaliLinux

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Quote from: Daryl_Dixon on March 07, 2022, 03:46:42 AM

The bitcoin market has also been affected by growing concerns about Russia's invasion of Ukraine.
But Bitcoin has been falling in the last 24 hours and is currently trading at around $ 37,794.
But the oil situation is quite the opposite. Just look at the price of oil and realize that this war has had a huge impact on the price of oil and safe-haven assets like gold.

But what is the reason for this?

In my opinion, because of the war, most people avoid high-risk assets such as bitcoin and other digital currencies!
+How many wars have Bitcoin experienced so far?
-Nothing
So it is natural that most people, because they do not know the reaction of bitcoin, turn to other assets such as gold and oil. The escalation of the conflict between Ukraine and Russia will also cause more fear among investors.

First of all, I will say that Bitcoin is not the same as oil in the sense that, oil is consumed differently than Bitcoin and this is global which is not the same with Bitcoin hence the reason while you will see the price hike like you see because Russia is a major producer and exporter of oil.

Secondly, I don't think that this Russian Invasion of Ukraine is really affecting the price of Bitcoin as most are saying. Please take time to look at the price in a bigger time frame instead of hourly or minutes.

From the SS, since Russia Invaded Ukrain on the 24 Feb 2022, which is highlighted in Yellow square, Can you really see any warlike significant price difference from the past days/weeks before Feb 24 Invasion days to today? Square highlight in green.
Bitcoins price came up to 45K+ around Feb 10, 2022, and did the same on March 02, 2022, so again, is there any significant change as with the war effect?

Now, that is the effect of war on price

PrivacyG

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Quote from: Pmalek on March 07, 2022, 03:58:07 AM

Russia produces a lot of oil. But because of the war, there are problems with the supply. Russia is being sanctioned by the whole world. There are even reports of Russian ships carrying oil being banned from entering certain ports. The result is less oil on the market but no shortage in demand. Therefore the price of the available reserves are going up.

Maybe it is also that traders are selling Cryptocurrencies to quickly get into Oil investments? Since Bitcoin's latest drops seem to be in a somewhat correlation with positive Oil changes, it may be a trendy move?

-
Regards,
PrivacyG

Pmalek

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Russia produces a lot of oil. But because of the war, there are problems with the supply. Russia is being sanctioned by the whole world. There are even reports of Russian ships carrying oil being banned from entering certain ports. The result is less oil on the market but no shortage in demand. Therefore the price of the available reserves are going up.

TheNineClub

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Bitcoin (and crypto in general) does not exist in a bubble and is therefore subjected to the ever-changing situations in the economy. In a war situation (especially like this one where a threat of a wider scale conflict is greater) people tend to revert to assets that are easily attainable and easily swapped for things that might be needed like FIAT or gold. In economies where there is not much you can do with crypto besides converting it into FIAT people get worried that their crypto assets will become worthless if they can't get to them (same goes for FIAT held in banks, that's why people are lining up to ATM machines in Russia). Also, in an investment sense, people that are fearing global economic collapse caused by war are really not eager to invest.

Daryl_Dixon

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Activity: 89

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The bitcoin market has also been affected by growing concerns about Russia's invasion of Ukraine.
But Bitcoin has been falling in the last 24 hours and is currently trading at around $ 37,794.
But the oil situation is quite the opposite. Just look at the price of oil and realize that this war has had a huge impact on the price of oil and safe-haven assets like gold.

But what is the reason for this?

In my opinion, because of the war, most people avoid high-risk assets such as bitcoin and other digital currencies!
+How many wars have Bitcoin experienced so far?
-Nothing
So it is natural that most people, because they do not know the reaction of bitcoin, turn to other assets such as gold and oil. The escalation of the conflict between Ukraine and Russia will also cause more fear among investors.

Topic: Bitcoin and Ukraine war - page 3. (Read 488 times)