Bitcoin price goes down as Russia begins Ukraine invasion - page 5.

pooya87

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Quote from: cryptoaddictchie on February 24, 2022, 01:40:55 AM

Tiny conflict? If tension rises with powerful country like Russia and have some conflict with NATO, isnt it a big issue here?

The "invasion" started 2 days ago but the troop mobilization started a long time ago (I think it was a couple of months ago). Russian forces haven't been facing that much resistance so far either. They occupied Donetsk and Luhansk 2 days ago and were met with people who celebrated the invasion!!! They started large scale attack today (6 hours ago if I'm not mistaken) and the border petrol not only didn't stop the Russian tanks but also welcomed them into the country!

Did NATO mobilize any forces during all these months? No.
Did US mobilize any forces? No.
Did anybody promise to get involved? No.
Is anybody starting any mobilization now? No.
Is Ukraine part of NATO alliance? No.

So why do you think they are going to get involved now?
So yea, this is tiny in comparison to other conflicts. For example Yemen conflict is so much bigger than this and it affects world economy a lot more since 70% of world's energy is passing right under this conflict and for example another attack on oil facilities like in 2019 would send fuel prices through the roof.

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Quote from: tomahawk9 on February 23, 2022, 11:29:09 PM

As soon as this hit the news portal the Bitcoin price went down 8%
...
thoughts?

I am not surprised, it went down as the S&P 500 and most assets went down. In the short term investors get scared because they think of something like what Stompix said:

Quote from: stompix on February 23, 2022, 11:40:15 PM

War and whatever the aftermath will mean trade will be on a downslide, it means the business will start downsizing, it means less money, fewer jobs, more people who count every penny and their top of the lists items are food and basic necessities, not investments.

Depending on how it develops, the market downturn will be more or less prolonged, but in the case of Bitcoin I think it will be like the coronavirus in 2020, when there is a recovery it will be the one that will rise the most.

cryptoaddictchie

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Quote from: pooya87 on February 23, 2022, 11:37:58 PM

What I don't understand is why such a tiny conflict (in comparison to much bigger ones that have been going on so far) has anything to do with bitcoin at all!
If for example Ukraine had any kind of stake in bitcoin, like if they had mining operation or something, it would have made some sense.

Tiny conflict? If tension rises with powerful country like Russia and have some conflict with NATO, isnt it a big issue here? We all knew that bitcoin and crypto are also part of something important on market. Well an annoucnement like this, tell us that some of those people arr panic selling due to potential inflation that effect of this incoming war.

Yes market manipulation but its indeed due to the news. Bitcoin isnt alone, those big names holding btc tends to use this to gain position or profit from it.

If its dump not due to this russian conflict then can you give example to why their selling? Pretty obvious right.

worle1bm

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Why are we focusing only on bitcoin as the whole market is down and not only crypto but share market has also tumbled a lot due to situation getting worse between Russia and Ukraine.The air strikes and Russian invasion have started a series of crash in prices and it will go on for some time until it's all over.So the best we can do is just hold the position in market at the time and wait long term.

ipanks

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Selling in a panic when they read the news everywhere will only leave regrets if we don't look for more information. I hope the news is not the cause of the fall in the bitcoin price this time but maybe from other reasons. People get worried easily when they read the bad news they get. Hopefully, this doesn't last long so the price can go up again. Once again, bitcoin gets the test but I believe bitcoin can handle it.

Argoo

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The war has already begun. Today at 4-30 Putin announced an attack on Ukraine. Ukraine is attacked not only from the border of Russia, but also of Belarus. Lukashenka completely fell under Putin. Explosions are heard in many cities of Ukraine, airfields are burning. Five Russian planes and a helicopter have already been reported shot down. The armed forces of Ukraine are already well armed and motivated. This will be the beginning of the end of the Putin regime. He breaks his teeth about Ukraine.
Yes, the cryptocurrency has fallen in price a lot now.

romero121

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Blasts heard in multiple cities. President Putin urges Ukrainian forces to lay down their arms. World countries state the decision of Russia is unjustified and unprovoked. As a result every share market have started to fall, same is happening with cryptocurrency market. Putin says there is no plan of acquiring territory. The war is to demilitarisation of Ukranian government. Whatever the reason, when the world is suffering out of pandemic this war is unwanted.

Crypto market that is in fluctuation for a long have now turned downside with the invasion of Russian troops into Ukraine through Belarus.

Luzin

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Maybe that's bad news, but if we look at the Halving cycle then indeed the current phase is in the Bearish phase. It also happened in 2018. Combined, it looks like it's interrelated. But if we have understood, then there seems no need to panic. They will return to ATH again, if the consensus is still agreed. My hope is that BTC won't cost less than $28k, if it's missed it's possible that BTC could run to $14k. This calculation I did by looking at the phase after halving in the previous year.

buwaytress

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I've to be completely honest and say I'm not really following any of the news, especially since it's been conflicting from different sources of late, but hadn't the invasion several times already been dated, also by the same president?

Anyway, less a direct impact I think of that, than of the stock markets in general. Somewhat denting claims that Bitcoin isn't any longer correlated to that.

bittraffic

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Then we rally could Bitcoin is indeed going to be affected when there is really war like this?

If it's going to trigger a lot of investors after seeing this price is taking a dive, retail investors will really take out thier coins for fiat taking the price down. There will be more dumps in days I guess it's time to send all to fiat including the altcoins? Anyone also suggests going to stablecoin first today and wait what will happen next?

sunsilk

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And it made the market go into plummet as well. Eth has followed and it's not a surprise when there are news like this. Eventually the market will become calm again.

The worry is about the actual situation on Ukraine as their president has also declared martial law.

News: Zelensky introduces martial law in Ukraine, urges calm

Going back with the market, it's the usual reaction of every holder and trader.

davis196

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This is panic selling and nothing else.I don't know why many BTC traders are panicking,but this is going to be temporary.Just HODL and forget about the Bitcoin price for a while.There's going to be a price recovery sooner or later.We just have to wait for it.The BTC blockchain is fine.The BTC miners aren't damaged in any way.
Comparing the Bitcoin price in 2014 with the current Bitcoin price is kinda wrong.Bitcoin wasn't as adopted by mainstream investors in 2014 and nobody cared about Bitcoin,when Russia invaded Crimea in 2014.
The Bitcoin price crashed in March 2020,when the pandemic started and everyone was panicking,but it reached 68K one year later.

pooya87

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Quote from: cheezcarls on February 24, 2022, 12:34:46 AM

Lucky for those who have positioned well and shorted BTC.

Actually price went down because they shorted bitcoin. Basically they borrow a lot of bitcoin to dump on the market and crash the price and then be able to make profit and pay back what they borrowed.

Quote

I think this "tiny" conflict between Russia and Ukraine are somewhat "major" in the eyes of the US, NATO, etc,

If it were "major" in their eyes they would have done something about it like mobilizing their troops months ago when Russia placed hundreds of thousands of troops around Ukraine borders and started threatening invasion. But they didn't do a thing and still are not doing anything. Funny thing is that Ukraine military (after buying millions of dollars worth of useless weapons from US) didn't do anything about it either!

That means this is only "major" in media not in reality.

Kakmakr

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The most logical explanation for this is that a large percentage of Bitcoin investments are now in the hands of the institutional investors. They are the ones that normally panic when there are political instability. Roll Eyes

The early investors and long time hoarders was not bothered with these types of things in the past, but the new institutional investors will quickly sell their high risk investments to dump it into so-called Safe havens. (Things like Gold and Silver)

I do not think it is market manipulation, but rather trigger happy institutional investors that are panic selling. Roll Eyes

cheezcarls

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Lucky for those who have positioned well and shorted BTC. Regardless of the outcome, I was waiting for the moment that BTC would go down to buy them at cheaper price. I think this "tiny" conflict between Russia and Ukraine are somewhat "major" in the eyes of the US, NATO, etc,., and it's just the fact that the whales are manipulating the market. They are playing us so that they can buy BTC at lower prices.

mk4

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Bitcoin — despite it being built for situations like this, in the end is still classified as a sort of "risk on" asset. So if markets in general continue to go down, bitcoin and the cryptocurrency markets will go down with them. Tried and tested safe haven assets such as gold are likely to outperform.

stompix

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Quote from: tomahawk9 on February 23, 2022, 11:29:09 PM

As soon as this hit the news portal the Bitcoin price went down 8%

Pretty obvious!
War and whatever the aftermath will mean trade will be on a downslide, it means the business will start downsizing, it means less money, fewer jobs, more people who count every penny and their top of the lists items are food and basic necessities, not investments. And shitcoins will be hit even harder, they need poeple gambling on them, most of them are just crunching small sums for thousands of "investors" that aren't really that happy with losing it all.

It's going to be ugly and even so things could get even worse.
With all these talks about sanctions and freezing assets prepare for far tougher laws for crypto too.

pooya87

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Quote from: tomahawk9 on February 23, 2022, 11:29:09 PM

About an hour ago, the president of Ukraine, Volodymyr Zelensky, confirmed that Putin was going to invade Ukraine.

Didn't Russia already invade and annex 2 big cities in Eastern Ukraine 2 days ago? I'm talking about Donetsk and Luhansk that used to be part of Ukraine.

Quote

As soon as this hit the news portal the Bitcoin price went down 8%

What I don't understand is why such a tiny conflict (in comparison to much bigger ones that have been going on so far) has anything to do with bitcoin at all!
If for example Ukraine had any kind of stake in bitcoin, like if they had mining operation or something, it would have made some sense.
This is not even affecting the world economy to have any effects on bitcoin!

Here is another important thing to blow your mind. Russia annexed another part of Ukraine exactly 8 years ago on the same dates too. Meaning on 20 February 2014 and bitcoin didn't care when Russia annexed Crimea. So why should it care now?
Here is something that would blow your mind even more, from February 20 to March 5 (the peak of the conflict) bitcoin price went from $500 to $670 (about 35% rise).

So the only explanation that is left is market manipulation.

tomahawk9

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About an hour ago, the president of Ukraine, Volodymyr Zelensky, confirmed that Putin was going to invade Ukraine. As soon as this hit the news portal the Bitcoin price went down 8%

Source

Quote from: https://www.marketwatch.com/story/bitcoin-plunges-8-to-one-month-low-as-putin-orders-military-operations-in-ukraine-11645675801

"Bitcoin plunged 8% on Wednesday night to as low as $34,778, the lowest level since Jan. 24, as Russian President Vladimir Putin announced a military operation in Ukraine.

The cryptocurrency BTCUSD, -7.01% was recently trading at around $34,915, down about 49% from its all-time high in November. Ethereum ETHUSD, -9.31% also tumbled to the lowest level in almost a month, recently trading at $2,375, down 10% over the past 24 hours. "

Source

thoughts?

Topic: Bitcoin price goes down as Russia begins Ukraine invasion - page 5. (Read 760 times)