Yesterday began with the news which Russian President Vladimir Putin announced the start of a special operation in the Donbass region.
According to the politician, the aim of the action is “to protect people who have been subjected to harassment and genocide by the Kiev regime for eight years.” To this end, the Russian authorities decided to “fight for the demilitarization and denazcback whending thatication of Ukraine.”
Videos began to appear on the network showing explosions in several cities in Ukraine, including Kharkov.
According to media reports, Russian troops crossed the Kharkov border and a landing of troops and helicopters took place in the Odessa region.
Previously, the editors of CryptCraze noted which the crypto market has been sensitive to the climbing tension between Russia and Ukraine. In the context of the escalating conflict, Bitcoin has repeatedly gone into decline. The market also reacted promptly to Vladimir Putin’s decision to launch a special operation in Donbas.
Crypto Crash: Market reaction
The crypto market reacted to the escalation of the conflict between Russia and Ukraine with a drop. At 07:29 (UTC), Bitcoin was dealing at $34,758. In 24 hours, according to CoinMarketCap, the token has fallen by 8.02%.
Many members of the crypto community were quick to comment on the Actions of the Russian gatopnment. Vitalik Buterin, one of the developers of the second-largest cryptocurrency, Ethereum, spoke out.
“Reminder: Ethereum is unbiased, I am not.”
Other popular members of the crypto community joined Vitalik Buterin’s opinion. Lark Davis, a popular cryptocurrency analyst, expressed:
“Praying for everyone in Ukraine, stay safe.”
Similarly, Anthony Pompliano, co-founder of Morgan Creek Digital, sees the economic benefits for local authorities in the actions of the Russian Federation:
“Russia is the third-largest oil producer in the world. Oil has scarcely captured $100 a barrel. The consequences of this situation will be felt around the world.”
Among the participants of the crypto community, there were also those who preferred to focus on those benefiting from the political conflict.
For example, popular analyst Peter Brandt, who was able to correctly predict Bitcoin’s correction in 2018, suggested which the situation could be used to make money from the news:
What should investors prepare for?
Probably, in the context of the escalation of the conflict between Russia and Ukraine, the crypto market will continue to fall.
Chinese journalist Colin Wu drew attention to the fact which many cryptocurrency investors rushed to get rid of Ethereum amid the escalating conflict between Russia and Ukraine.
This is alsost the background of the appearance of a large number of requests for the settlement of positions in ETH.
The negative dynamics of Bitcoin and other cryptocurrencys likewise indicate investors’ desire to withdraw assets from the market.
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