Bitcoin and international conflict

[Tony116]

  It is clear to me now that the fate of Cryptocurrencies during large scale events has been decided.  And they are definitely not considered a safe haven.

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Regards,
PrivacyG

Same idea. I still think bitcoin is a pretty safe haven. but yesterday's conflict has turned the whole market a red. we always compare bitcoin to gold, but maybe not now. Bbitcoin needs more time to show itself, maybe when bitcoin price hits 400k$ -500k$. Only then can bitcoin be considered a safe haven.

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[lixer]

Why is bitcoin losing value at a time of conflict? Isn't it intended to do the opposite?

Pretty simple, if you're from a region that has conflict, you're better off with fiat than bitcoin so you trade that bitcoin for fiat and hopefully it would be enough for you to survive for awhile at least until the aides and help come which might take a long time because in a war, most resources are focused on offensive and defensive efforts of the country.

Yeah you made the point, someone who is in an area where there is conflict would prefer to have cash at hand and not Bitcoin. Because majority of the things that you will have to do would require you making payments in cash, in fact 99% of things that you would be doing at that moment would require cash or Fiat to make the payment.

So, Bitcoin wouldn’t really be of much use to anyone that is in such position, so they would prefer to sell all the bitcoins or most of the bitcoins that they have if not all, so that they can have more cash to deal with whatever problem that they might encounter during that moment.

[Kakmakr]

I think it was a "Safe haven" until the large institutional investors started to invest in Bitcoin.. then things changed slightly. You see... it only takes one spark to ignite a fire... and these institutional investors panic selling is just the spark that are needed to trigger a dump of more coins from other traders.

They suddenly sell a large quantity of bitcoins on exchanges and the bots goes in overdrive... because they were configured to protect the traders. So you get a ripple affect in the pond and the small ripples ..turn into waves.  

[DapanasFruit]

When I started with Bitcoin years ago, I was under the big assumption that Bitcoin is a safe haven especially during time of chaos and problems of great magnitude. When the pandemic started, Bitcoin actually made a heavy slump though it eventually recovered. So maybe it is possible that at the start of any conflict Bitcoin can take the hit but as time goes on it can be immune to that conflict and would be starting to rise again. We have to remember that Bitcoin can never be confiscated by any governmental power and it is number one choice on this aspect and because BTC is having a dip right now getting into it is really an attractive proposition but of course am not referring to the money that you are supposed to be using for your daily survival especially if you are in Ukraine.

[Ozero]

Pretty simple, if you're from a region that has conflict, you're better off with fiat

Actually in case of that what you need is food and shelter because neither fiat nor bitcoin are going to prevent starvation or stop bullets.
Not to mention that you can't really store large bags of cash in your home because the banking system is going to be the first that will get hit. You can see how Russia performed a large scale cyber warfare against Ukraine over the past couple of days that included hacking their banking system. Meanwhile bitcoin is not and can not be affected by this.

The banking system in Ukraine is still working without interruptions. In some areas, there are only queues at ATMs. The situation is tense, but after yesterday the occupiers received a worthy rebuff, the patriotism of the population is already going wild. People help the army with money (only yesterday more than 20 million hryvnias were transferred to a special account of the National Bank of Ukraine), food and transport, and en masse join the ranks of territorial defense. Although Ukraine is significantly inferior to Russia in military potential, it is unlikely that it will be able to defeat such a people. Ukrainians do not intend to return under the yoke of Russia.

[KaliLinux]

Why is bitcoin losing value at a time of conflict? Isn't it intended to do the opposite?

[/color]


What I believe:


It depends on your perspective, whether short- or long-term.
How do you feel about this?

I understand what you are saying but people need fiat to pump into Bitcoin investment for that to happen and I see people saying that the Russia/Ukrian war is affecting Bitcoin but is this really the case?
I just wanted to check that highlighted question, is it really this present conflict that is affecting the price of Bitcoin and other cryptocurrencies, or is Bitcoins price going along the normal TA determined price.

I wanted to put this here first so that we can comprehend it from a wider perspective


but my focus is zooming in on a couple of days here, the green circle and arrow marked price still look like it is still trading along the resistance dotted redline around $39k+.


The market has been having little flash dips since before the war started and it is not different from what we saw with the Bitcoin price within the past few days. Not unless there is something else I missed I would say, Bitcoin is just having its normal market pattern and not under the influence of this Russia/Ukraine crisis.  

[kryme]

Stop comparing the price of Bitcoin to fiat. 1 Bitcoin always equal 1 Bitcoin. That will never change!

[kryptqnick]

Why is bitcoin losing value at a time of conflict? Isn't it intended to do the opposite?

What I believe:


It depends on your perspective, whether short- or long-term.


Bitcoin is not and has never been immune to short-term hysteria.


Bitcoin benefits in the long run from efforts to shut out whole countries from the international correspondent banking system.


Obviously, I am on the side of the excluded, i.e. the misfits. My good buddies are all financial misfits!


How do you feel about this?

Since this is the biggest conflict it faced so far, I guess we'll see very soon. The initial reaction of falling is only natural when anything significantly bad happens, but right now it's almost 8% up from yesterday, and I think that overall it will be fine. Bitcoin is a currency one can use without borders and without centralized parties that might restrict the flow of money or be under restrictions from other parties. It's also the most reliable financial tool that is certainly not under anyone's control and is not as dependent on the global economy as other, more traditional things like stocks. So unless we're at a stage when people abandon money overall for real food, weapons, protective materials etc. all over the world, I think it will rise.

[kentrolla]

I am not clear what impact international conflicts have on BTC price. We saw increase in BTC price after USA killed Qasem Soleimani an Irani general on 3 January 2020. At the moment BTC prices are not going up due to Ukarine and Russia conflict. It may be because BTC price has already gone so up in last one year that there is not much room for further expansion.
Just my own thoughts.

It does impact bitcoin's price and if we take the current Russia's invasion of Ukraine then the users in the conflict zone need fiat more than any other time hence they will end up selling what they have stored in bitcoin or other crypto as there is no guarantee about survival and having fiat will help them with their hardship and possible migration, at the same time due to sanctions from EU and west on Russian financial institutions they would prefer bitcoin as a medium of fund transfer so it has possibilities of pushing the bitcoin's value on both the ways but only on short term after which it would be business as usual for crypto.

[Ararbermas]

Why is bitcoin losing value at a time of conflict? Isn't it intended to do the opposite?

Pretty simple, if you're from a region that has conflict, you're better off with fiat than bitcoin so you trade that bitcoin for fiat and hopefully it would be enough for you to survive for awhile at least until the aides and help come which might take a long time because in a war, most resources are focused on offensive and defensive efforts of the country.

 i don't think it's necessary to sell bitcoin into fiats despite of their situation. because surely they have enough back up money to sustain their needs and in order to survive of that war.

Imagine most people nowadays has savings mate so probably its not needed if however some of them have bitcoin investment.
Infact this war has been rumours for how many days so for sure they are very ready especially for their needs.

And lastly bitcoin isn't legal tender on their country and just implemented few days ago, so i don't think most of their money is on bitcoin and since month of February market growth rate is keep decreasing as well.  

[nur rochid]

I am not clear what impact international conflicts have on BTC price. We saw increase in BTC price after USA killed Qasem Soleimani an Irani general on 3 January 2020. At the moment BTC prices are not going up due to Ukarine and Russia conflict. It may be because BTC price has already gone so up in last one year that there is not much room for further expansion.
Just my own thoughts.

It does impact bitcoin's price and if we take the current Russia's invasion of Ukraine then the users in the conflict zone need fiat more than any other time hence they will end up selling what they have stored in bitcoin or other crypto as there is no guarantee about survival and having fiat will help them with their hardship and possible migration, at the same time due to sanctions from EU and west on Russian financial institutions they would prefer bitcoin as a medium of fund transfer so it has possibilities of pushing the bitcoin's value on both the ways but only on short term after which it would be business as usual for crypto.

As we know, if there is a conflict, it will cut off the facilities in the city. just as the russian bombed a city in ukraine, causing infrastructure damage, so while the internet is still usable, many people choose to keep fiat, which is easier to buy food needs. from this picture, it is not surprising that the price of bitcoin continues to fall even though it may not last long

[worle1bm]

Bitcoin can solve your financial problems to some extent but it could not solve world problems like this war.The most who suffer during this wartime is the soldiers and the common citizens as they are first Target and got their lives disturbed and frankly saying btc can't help at this time to them.You need to convert it to fiat to buy some stuff but what if banks are not operational? The global peace is solution for this war and it needs to be stopped thinking how many people would lost their lives in this.

[Sophiya]

It seems to me that this conflict did not affect bitcoin at all, at the beginning of hostilities it really fell a little, but now it is rising to the usual numbers (perhaps rich people transferred their assets))) Lately I trust cryptocurrency more than fiat money

[KEN L]

I think I save money to eat and live, and then convert it all into bitcoin，Bitcoin has been tested countless times. Bitcoin will continue its monetization journey in the next century, I think everyone should have confidence that Bitcoin will continue to move forward!

[jhonjhon]

Pretty simple, if you're from a region that has conflict, you're better off with fiat

Actually in case of that what you need is food and shelter because neither fiat nor bitcoin are going to prevent starvation or stop bullets.

Very well said. Food water and shelter are what we need in order for us to survive in times of crisis like what Ukraine have experienced today. Using bitcoin in a middle of crisis
is not necessarily easy. For one thing, you need an internet connection and a working device. You also need to know how to use bitcoin, which some people are'nt able to pick up quickly in times of crisis.

Meanwhile bitcoin is not and can not be affected by this.

The fact that it cannot be frozen, it cannot be censored, and it can be used without ID, thats the reason why bitcoin is such an important humanitarian tool. For better or for worse, it is also a part of international conflict too.

[Questat]

Bitcoin can solve your financial problems to some extent but it could not solve world problems like this war.The most who suffer during this wartime is the soldiers and the common citizens as they are first Target and got their lives disturbed and frankly saying btc can't help at this time to them.You need to convert it to fiat to buy some stuff but what if banks are not operational? The global peace is solution for this war and it needs to be stopped thinking how many people would lost their lives in this.

Never ever to see that this was a helping tool to solve and stop conflicts, not even to help poverty but this just an alternative currency. The most possible way it helps during this war in the people from Ukraine and even from Russia is to make use of their Bitcoin to purchase online and they don't need to go outside but instead, they will stay at home waiting.
Well, some people from Ukraine asking for some donations and the good thing about Bitcoin is people can send some without going there and it saves hungry people.

[stomachgrowls]

Bitcoin can solve your financial problems to some extent but it could not solve world problems like this war.The most who suffer during this wartime is the soldiers and the common citizens as they are first Target and got their lives disturbed and frankly saying btc can't help at this time to them.You need to convert it to fiat to buy some stuff but what if banks are not operational? The global peace is solution for this war and it needs to be stopped thinking how many people would lost their lives in this.

Never ever to see that this was a helping tool to solve and stop conflicts, not even to help poverty but this just an alternative currency. The most possible way it helps during this war in the people from Ukraine and even from Russia is to make use of their Bitcoin to purchase online and they don't need to go outside but instead, they will stay at home waiting.
Well, some people from Ukraine asking for some donations and the good thing about Bitcoin is people can send some without going there and it saves hungry people.

Basically on that kind of purpose or simply with that payment system but people are trying to connect it to more complicated things like solving poverty or something that it isnt really that applicable anymore or couldnt really be that possible to happen.It is just on human thinking on applying out something which doesnt really fit out.This is a digital currency which do acts or serve out
just like on what we are doing with fiat although its on decentralized manner.It doesnt really need to solve out something.

[Kelvinid]

It can be true that we got affected in times like this but I think we are not that much and the market doesn't just receive the consequences alone, it in fact affect the entire economic system. I'm not going to say Bitcoin becomes helpless at this moment over fiat but instead, I was seeing it going to move on than these fiat banks shutdown. The reality is that, people from Ukraine went to make online purchases if possible where they can make use of their Bitcoin or other digital currencies. And to believe that even the crisis happens, we can't see the price of Bitcoin drops badly and I think it was because the demand is still high and people are taking advantage to spend it while going outside and the use of fiat is likely impossible.

[lepbagong]

Why is bitcoin losing value at a time of conflict? Isn't it intended to do the opposite?

I think all problems are not just conflicts that can affect the correction of bitcoin, but usually those problems are related to countries that have a role in crypto as well, as well as large corporate institutions that also play a role in crypto.
everyone will usually be in a panic situation and immediately release their savings which causes the market to go down.
but this will not have a long impact will return to normal again.

[suzanne5223]

Why is bitcoin losing value at a time of conflict? Isn't it intended to do the opposite?

I think all problems are not just conflicts that can affect the correction of bitcoin, but usually those problems are related to countries that have a role in crypto as well, as well as large corporate institutions that also play a role in crypto.
everyone will usually be in a panic situation and immediately release their savings which causes the market to go down.
but this will not have a long impact will return to normal again.

Bitcoin is neutral in terms of political or international conflict but there is something during the conflict that will influence the price of the Bitcoin market which leads to FUD and major sell the market an example is some people who want Binance and Coinbase to ban Russians from trading platforms.
Another one is the Ukraine airdrop crypto fund if such crypto is sold at once it will impact the market although the market is already on the verge of market correction.