However, it is a curious case that just minutes before Putin gave the order to attack Ukraine, the price of Bitcoin has suddenly leaped high. There was a spike of around $2,000 in the price of Bitcoin even if the Russian attack is getting imminent. So perhaps, on the contrary, it could be argued that a war or a full-scale attack-- which means that banks and ATMs are expected to be non-operational and people would be fleeing-- would somehow increase the demand of Bitcoin as people would definitely find more efficient ways to keep their wealth safe.
https://i.imgur.com/DZOhO6L.png
Probably, but it's definitely too early to make conclusions. I mean, this recent bump up in price pretty much just covered the flash crash we had yesterday lol. Truth be told — a huge majority of Ukranians will still be attempting to get their money out of the system, rather than rushing onto exchanges to buy bitcoin.
Yes, of course. There are no conclusions here. We're all simply speculating, but based on available facts, of course. As a matter of fact, there is also that possibility that all these price movements of Bitcoin and the rest of the crypto market don't have anything to do with this Russia-Ukraine conflict or war. War has been imminent for the past hours, days, and weeks and yet Bitcoin generally behaves the way it has always been. Perhaps we couldn't even provide conclusive answers to a more fundamental question, will Bitcoin's price significantly react to regional conflict the way the traditional market does?