10 Mar Crypto market affected by the war
When Russia launched the war against Ukraine, Crypto Marketing was immediately affected and recorded losses of up to $1.57 trillion.
On February 24, when the Russian President announced the attack on Ukraine, Crypto Marketing recorded a significant drop, as Coin Desk price for bitcoin registered.
The cost of Bitcoin fell by 8.12%, and Ethereum was down by 13.28%.
As Coin Desk statistics show, during February 17, when tensions broke out between Russia and Ukraine, and February 24, when the war started, Bitcoin registered a significant decentralized currency, probably reaching the lowest level in the last period.
Ethereum registered similar statistics. Ethereum (ETH) was trading at $2,341.03, with a fall of 13.28%, compared to February 17, when it was trading at $3,138.27.
In times of war, it seems that cryptocurrencies don’t pass the reliability test. And the question arises: if they don’t pass this test, how much should people rely on them? Is it safe to save in crypto? Is it better to keep in fiat? Or, as any kid can tell, precious metals rule in tough times like these?
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