Mo.bi - Crypto Currency Tracker logo Mo.bi - Crypto Currency Tracker logo
Cryptoknowmics 2022-02-28 18:00:52

Impact of Russia Ukraine War on Cryptocurrency Market

The cryptocurrency market is one of the most volatile markets in the world. It is very common for cryptocurrencies to fall or rise 10-20 percent in a day. Sometimes, cryptocurrency with billions of dollar market cap jumps or fall 20-30 percent in a day after some bullish or bearish news. Due to low liquidity in smaller market cap cryptocurrencies, the impact on their prices is much more significant. Currently, there is a major macro factor playing out i.e The War between Russia and Ukraine and it is creating huge volatility in crypto markets, and cryptocurrencies prices are going up and down very quickly with every important news. This article will cover how this War has impacted Cryptocurrency markets. ⚡️BREAKING: Russia's President Vladimir Putin announced that Russia will conduct "a special military operation" to "demilitarize" Ukraine, de facto declaring a war on Ukraine. — The Kyiv Independent (@KyivIndependent) February 24, 2022 On Thursday morning, when Russian President Vladimir Putin announced on television a ‘special military operation’ to complete Ukraine’s ‘demilitarisation.’ Bitcoin, the world’s most popular cryptocurrency, plummeted almost 8% to $34,932.07 while Ethereum, the second-largest cryptocurrency by market capitalization, lost nearly 10% of its value, falling to $2,376.19. It’s not just the cryptocurrency markets that fell. Stock Markets also took a fall. The Dow Jones Industrial Average fell 1.38 percen...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.