The Russian attack on Ukraine not only affected stock markets worldwide, but also digital currencies like Bitcoin. The market value fell by around eight percent in the morning.
Digital currencies like Bitcoin have reacted to Russia’s attack on Ukraine with significant price losses.
In the morning, the price of the oldest and largest cryptocurrency by market value, Bitcoin, fell by around eight percent to below $35,000. Ether, the second largest Internet currency by market value, fell by 12 percent to around $2,300. Other digital values such as Cardano or Dogecoin collapsed even more.
Cryptocurrencies such as Bitcoin are considered by experts to be particularly risky investments, which is why they are particularly affected by the high level of uncertainty due to the Russian attack. “Once again, cryptoassets prove that the narrative of the supposed safe haven is a myth,” commented expert Timo Emden from Emden Research. Some crypto investors believe that digital assets have a protective function against particularly uncertain times, similar to gold, despite high price fluctuations.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
