Crypto Crash: Crypto influencers expressed their concern for Ukrainians as the recent actions of the Russian Federation have had a worldwide impact.
Yesterday began with the news that Russian President Vladimir Putin announced the launch of a special operation in the Donbass region.
According to the politician, the action is aimed at “protecting the victims of persecution and genocide by the Kiev regime for eight years.” To this end, the Russian authorities decided to “fight for the demilitarization and demilitarization of Ukraine.”
Videos began to appear on the network, showing explosions in several cities of Ukraine, including Kharkov.
According to media reports, Russian troops crossed the Kharkov border and troops and helicopters landed in the Odessa region.
Earlier, the editors of BeInCrypto reported that the crypto market has been sensitive to the escalating tensions between Russia and Ukraine. In the context of escalating conflict, Bitcoin has repeatedly gone into decline. The market also reacted quickly to Vladimir Putin’s decision to launch a special operation in the Donbass.
Crypto Crash: Market Reaction
The crypto market reacted to the escalation of the conflict between Russia and Ukraine with a decline. At 07:29 (UTC), bitcoin was trading at $34,758. According to CoinMarketCap, the cryptocurrency is down 8.02% in 24 hours.
Many members of the crypto community were quick to comment on the actions of the Russian government. Vitalik Buterin, one of the developers of the second largest cryptocurrency, Ethereum, spoke.
“Reminder: Ethereum is fair, I am not.”
Other popular members of the crypto community joined in on Vitalik Buterin’s opinion. Popular cryptocurrency analyst Lark Davis expressed:
“Prayers for everyone in Ukraine, stay safe.”
Similarly, Anthony Pompliano, co-founder of Morgan Creek Digital, sees economic benefits for local authorities in the actions of the Russian Federation:
“Russia is the third largest oil producer in the world. Oil has just hit $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 who benefited from the political struggle.
For example, popular analyst Peter Brandt, who was able to correctly predict bitcoin’s correction in 2018, suggested that this situation could be used to make money from news:
What should investors prepare for?
Presumably, in the context of escalation of the conflict between Russia and Ukraine, the crypto market will continue to decline.
Chinese journalist Colin Wu drew attention to the fact that many cryptocurrency investors rushed to get rid of Ethereum amid the escalating conflict between Russia and Ukraine.
This is against the background of the appearance of a large number of requests for settlement of positions in ETH.
The negative dynamics of bitcoin and other cryptocurrencies also indicate the desire of investors to withdraw assets from the market.
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