There was a dip seen in Bitcoin for below the level of $40,000 over weekend and it also kept weakening with the deepening of Ukraine crisis, declining the argument which crypto currency is the haven during any such kind of the geopolitical chaos.
The drop in Bitcoin for 2 weeks and above lead to low as fears for the probable Russian attack of Ukraine that has prompted few of the analysts to predict biggest crypto currency can also slide toward level of $30,000.
Impact of geopolitical chaos – Continuous drop in bitcoin
Bitcoin dropped again for consecutive sixth day, thereby touching the low level of $36,372 after Vladimir Putin, Russian President said that he is now recognizing 2 self-proclaimed nationalist republics in the eastern Ukraine & also ordering the troops. Other crypto currency even took a dip, with Ether off to be 2.9% along with XRP moving down to 6.7%.
The dip in Bitcoin below the level of $40,000 kept on weakening as there was high crisis and geopolitical chaos. On the other hand, gold has also attained the highest level ever since June.
In latest maelstrom of the globe for U.S. and for Russia and for Ukraine. Bitcoin, where the asset purported for being the key answer to each such question, has now quietly weakened as well as it is notably failing for their arch-enemy, gold. Roque has also predicted the fact that Bitcoin might also fall for less than $30,000. It is the level which hasn’t seen since the month of July. Since the traders progressively favor for gold, possibly pushing bullion to the record high.
Inability to hold the level of $40,000 by Bitcoin amid sharp Ukraine strains. It means $30,000 is now back in the play. Geopolitics now has replaced inflation as a key driver of traditional & crypto markets.
