Why bitcoin is going up during war?

[m2017]

And now i thought it will go new low and now it is going up, like what is happening, why it is going up in such situation of uncertainty and war?

People are looking for something stable in times of war, and for some people it may sound strange at first they why would they choose Bitcoin that is very volatile.

The national currency may turn out to be even more volatile than Bitcoin. When it comes to preserving at least some value of their finances, then people can consider any possible and available tools. Bitcoin is one of those tools.

You can't move gold or other hard assets out of your country or region so easy or it's almost impossible, and for Bitcoin you only need to have piece of paper with seed words or remember them if you can.
When you cross the border or enter safe zone with internet you will have full access to you funds, that is obvious advantage of Bitcoin.
You can't fo that with gold, and your domestic paper currency may be worthless in other countries.
Simple conclusion, people buy more Bitcoin and price goes up.

You correctly and accurately noticed that in this vein, gold is certainly inferior to bitcoin. From the point of view of refugees, bitcoin in my opinion has no competitors. But some difficulties may arise. For example, not all residents of these countries have the experience and skills to use bitcoin. The older generation doesn't always know how to use a PC, not to mention cryptocurrensy.

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[franky1]

you need to learn some common sense things about bitcoin

lets say it cost $30k/btc on the cheapest place to mine bitcoin on the planet
lets say it cost $75k/btc on the expensive place to mine bitcoin on the planet

if the price even crept close to the cheapest.
all those others with higher costs will just go on a buying frenzy because its better to buy than mine
meaning it causes good buy support to uphold a bottom

if the price even crept close to the expensive.
all those others with lower costs will just mine to sell frenzy because its better to mine than to buy
meaning it causes a heavy resistance to hold down a top

if the price is more expensive than all people, including hobby miners can mine fine. no one wants to buy if they can acquire it cheaper
and so the price market plateaus out due to lack of people buying and a larger amount willing to sell

2021 never had a window of mining cost that made it even a thought that it was worth buying bitcoin above $80k.

based on the currently being released asics and looking at the cost of mining they will produce.
the hashrate would need to be over 300exa to have an substantial chance of reaching and retaining a $100k market price demand

yes you might see some odd speculative hype temporary blips in market price due to silly rumour. but these always correct quick
just dont expect a $100k coin that sustains at $100k+ any time soon(while hashrate is way below 300exa)

[wxa7115]

Ok first of all I have really given up on trying to understand bitcoin behaviour, I remember so called experts said that bitcoin will touch 100k by the end of 2021 and we all know how much accurate that prediction comes out to be, then there is El Salvador we thought it will touch sky after El Salvador made it legal tender but it crashed.

And now i thought it will go new low and now it is going up, like what is happening, why it is going up in such situation of uncertainty and war?

I think that to begin with you are making the mistake of thinking that the markets are predictable, and obviously that is not the case, this is why the opinion of those so called experts is many times wrong because if we are honest no one can really predict what the market is going to do with a high degree of accuracy.

Now about why the price of bitcoin is going up right now, the truth is no one really knows, this could be just a small upward correction and nothing more, however this could also be a sign of people being worried at Russia about what it may happen to their economy and they are deciding to buy bitcoin, yesterday I saw a news that many Russians were going to the bank to withdraw their money because they were afraid that the banks were going to be closed, but having cash is just the first step, the next question is what do you do with that cash? And a good option to try to preserve your wealth is to buy bitcoin.

[Oceat]

OP, I think you are listening to a wrong "so-called expert" or you are rather influenced too much by clickbaits information. Know your legit source if you want to continue to survive in this market because it's too unpredictable and you might fail again to understand what is happening.

And why Bitcoin is going up during war? It's because if people can't use cash during war then people should put it somewhere where their funds is protected by only you and that is Bitcoin. So if you are a Russian, you probably think it through on how to save or transfer it to a safe place.

[DU18]

Ok first of all I have really given up on trying to understand bitcoin behaviour, I remember so called experts said that bitcoin will touch 100k by the end of 2021 and we all know how much accurate that prediction comes out to be, then there is El Salvador we thought it will touch sky after El Salvador made it legal tender but it crashed.

And now i thought it will go new low and now it is going up, like what is happening, why it is going up in such situation of uncertainty and war?

We all know if the war has a bad impact on all things including in this case the stock market and crypto, actually at the beginning of the tension war between ukraine and russia began, the price of bitcoin began to decline and even touched a fairly low price level due to panic from investors in selling, but now bitcoin prices are starting to rise due to American sanctions which have an impact on the decline in the value of Russian money, so many Russian citizens are starting to withdraw their money to buy bitcoins, I think the huge demand for bitcoin that occurs in Russia is one of the reasons bitcoin prices are starting to rise today.

[OgNasty]

Historically War has been good for investments.  It means the government is going to spend a shitload of money, which is good for markets.  One might argue that government spending has been propping the markets up since 2009, so this latest war is no different from the housing crisis, pandemic, etc. as far as markets are concerned.  Many people credit World War II and the Vietnam War for spurring economic activity that led to great booms in markets. 

Unfortunately, in a world where everything is centered around money, there will be those who always clamor for war.  There's a lot of companies manufacturing bullets and bombs.  They aren't doing it for looks.  They want to profit and so long as government officials have exposure to these sorts of investments, war will always be considered as a money making opportunity to some.  There are people who say, "Bitcoin fixes this" but I think seeing how Russia has played their hand so far, you might think that Bitcoin is actually going to exasperate this so long as countries can profit from their own bad behavior.

[Lanatsa]

Ok first of all I have really given up on trying to understand bitcoin behaviour, I remember so called experts said that bitcoin will touch 100k by the end of 2021 and we all know how much accurate that prediction comes out to be, then there is El Salvador we thought it will touch sky after El Salvador made it legal tender but it crashed.

And now i thought it will go new low and now it is going up, like what is happening, why it is going up in such situation of uncertainty and war?

External events or fundamentals doesnt really mean that it would be always having an effect on the market because it could neither pump or dump without anything happening
or least expected on which it do really makes this market unpredictable.

If you are dealing with this market then you should really be getting used to on which it is unpredictable.It could move neither it does have some sentiments
around or doesnt have.

[jaberwock]

OP, I think you are listening to a wrong "so-called expert" or you are rather influenced too much by clickbaits information. Know your legit source if you want to continue to survive in this market because it's too unpredictable and you might fail again to understand what is happening.

And why Bitcoin is going up during war? It's because if people can't use cash during war then people should put it somewhere where their funds is protected by only you and that is Bitcoin. So if you are a Russian, you probably think it through on how to save or transfer it to a safe place.

That's true, lots of people have predicted that btc will cross 100k and that already include some experts in the crypto field. Let us not act as if we didn't see it because there are a lot of topics like that last time and I am sure you saw that too.

I do not think your going disagree with that because almost all the crypto users want btc to pump much. He is going to survive if he will just hold and wait because that is the advice that he sees and isn't that great when all people acted like that? it contributes to the price if there are no short term sellers and panic sellers. People can keep their money in banks but banks can be raided by the military or can be destroyed. Bitcoin is still the safe way to go.

[24Kt]

Because bitcoin is store of value. Do you know Russian Ruble had a deflation of 30% in value? Would you love seeing your money getting devalued or thinking of alternative? Gold is another option but Bitcoin is now the most considered store of value. In a world war, peoole will have the option to save their asset in form of bitcoin.

And to add, we are already in the digital age and bitcoin is a very good option to transfer money in and out of the country where war is currently happening. As there is no restrictions when it comes to crypto, they can basically get out their funds safer and faster, without too much hustle. As we have seen, a lot of donators are pouring in Ukraine via crypto, because you can send donations without putting your identity at risk. Though gold is another option, can you easily bring it outside without subjecting yourself to danger? Many people are buying because they can see now that bitcoin is one good alternative to move and save their assets,  without sending any signal from possible perpetrators. They can always go silent about holding crypto.

[albon]

Ok first of all I have really given up on trying to understand bitcoin behaviour, I remember so called experts said that bitcoin will touch 100k by the end of 2021 and we all know how much accurate that prediction comes out to be, then there is El Salvador we thought it will touch sky after El Salvador made it legal tender but it crashed.

And now i thought it will go new low and now it is going up, like what is happening, why it is going up in such situation of uncertainty and war?

All of these were just predictions from experts based on personal analyzes that may happen and may be wrong. The price of Bitcoin has gone up because it received strong support from buyers. The total donations made in cryptocurrencies to the Ukrainian government amounted to millions of dollars. cryptocurrencies played an important role in this war for both parties. This is due to the fact that Bitcoin and cryptocurrencies, in general, are intangible and are not issued by a central bank, and are not subject to oversight.

[Marykeller]

Bitcoin will surely hit $100k someday, but nobody knows actually. The sudden spike in the bitcoin price is most likely to give bitcoin another ATH this year. Russia, Ukraine war can make it happen this year(I don't pray for such war to escalate)
The increase in bitcoin price is caused by Ukrainians using bitcoin as their safe haven to store up their assets.

[Vaskiy]

With the war cryptocurrencies have got more visibility than the past. Once the war started more people started talking about bitcoin as an alternate to withstand the situation. Initially the market broke same as the world market, but when people found it a way to secure their holdings against the inflation large funds started flowing into cryptocurrency. This have resulted with the ongoing bullish move of the market. The price that is predicted to touch $25k once after the invasion of Russian on Ukraine have now touched $44500+

[suzanne5223]

Ok first of all I have really given up on trying to understand bitcoin behaviour,

No one can totally understand the Bitcoin market behavior and you can only follow the trend it posed and use it for your benefit.
I have said in some of my posts that the situation between Russia and Ukraine doesn't control the Bitcoin market price.

I remember so called experts said that bitcoin will touch 100k by the end of 2021 and we all know how much accurate that prediction comes out to be

The 100K per Bitcoin price prediction was not accepted by me and through the year 2021 market Bitcoin never reach" the 100K price range but I am surprised and willing to understand what you mean you said "we all know much much accurate that prediction comes out to be"

then there is El Salvador we thought it will touch sky after El Salvador made it legal tender but it crashed.

And now i thought it will go new low and now it is going up, like what is happening, why it is going up in such situation of uncertainty and war?

Welcome to crypto verse where the market can make a bullish momentum with no reason at all

[GeorgeJohn]

The war is disrupting lots of economic and financial activities across both countries and many Ukrainian and Russian are switching to buying crypto specifically Bitcoin to avoid been stranded after the war.  This is one of the strongest reason why I feel the sudden pump took place. After the war many will be forced to start a fresh life so crypto is just the only saving grace at the moment

I know vividly that war is all about destruction and i know very well that people that's at disadvantages and at lost is the Ukrainians indecencies that they are one the combat is still in higer dimensions, from my views both countries adventuring into purchasing Bitcoin now in order to recover their lost after the conflict is to purchase Bitcoin, i may say is a wrong perceptions or wrong investment plans, because in Bitcoin investment two things are concerned, positive or negative ( advantages and disadvantages) the regulation of bitcoin is not stagnant to predict directly to acceleration always, in essence what I'm trying to figure out, is that they might invest now with higher domination of price before the war get to an end the price will get depreciated and stand sea.

[dark1234]

The war between Russia and Ukraine became one of the trending topics of conversation in early 2022, causing the bitcoin price to decline because Russia is one of the largest bitcoin holders.
And bitcoin is currently bullish or just a trap and becomes a deeper bearish of course fundamental analysis is currently very much is very influential for the next  bitcoin as said the president of ukraine who wants to join the EU AND NATO

[Kelvinid]

The price went down before the war started giving the opportunity for the investors to buy. Like be just a sort of coincidence, perhaps, we don't know Russia will start it or even Ukraine.

People will not consider the war as the reason why they stop investing. No, they'll go for what seems to be the best and in fact, the covid-19 crisis hasn't even stopped us, it eventually grew far and reach the ATH. This is the reality and to see that Bitcoin dumps and sometimes drops due to the demand. People are still buying which increases demand and so we see the price moving up as well.

[michellee]

You don't need to understand bitcoin behaviour because no one can understand how bitcoin behaves and when it will. You don't have to listen to experts who don't necessarily understand bitcoin. My advice is you just enjoy the bitcoin journey, try to make enough profit, and wait for the moment to buy bitcoin and hold it for a while.

Bitcoin can rise for no apparent reason because it depends on how sentimental traders and investors are. It's better to take profits at this time and wait for the right moment to buy at a low price.

[Sebas.tian]

The war between Russia and Ukraine became one of the trending topics of conversation in early 2022, causing the bitcoin price to decline because Russia is one of the largest bitcoin holders.
And bitcoin is currently bullish or just a trap and becomes a deeper bearish of course fundamental analysis is currently very much is very influential for the next  bitcoin as said the president of ukraine who wants to join the EU AND NATO

Yes, Russian is one of the largest bitcoin holder in 2022 which war is seriously causing the price of bitcoin unstable in the community. What investors are seeing right now, is a sign of market bulling for Russian to start earning something good from their long term investment. Russian citizens will definitely use this opportunity to make more money from their bitcoin investment to get more food stuffs that can sustain them through out the war. Bitcoin price just moved to $44k after a serious attacked Ukraine carried out yesterday to attacked Russian and their economy.

[dezoel]

The truth is that you really can’t predict Bitcoin. But all this times you were talking about that Bitcoin reached a new all time high and El Salvador investing , with predictions of $100k, all those people making that prediction were not 100% sure of the predictions that they were making.

El Salvador adopting it as a legal tender wasn’t even enough. The market has reached its peak and was facing another correction, and one it gets to that there is no amount if news that would bring it down. But right now there is definitely lots of people who are buying Bitcoin, although I can’t tell for sure, but some few countries has declared legal, even Ukraine and Russia did that and with their currencies being affected by the war now, it’s possible that people will be buying Bitcoin as a way to preserve the value of their assets.

[perfect999]

The national currency may turn out to be even more volatile than Bitcoin. When it comes to preserving at least some value of their finances, then people can consider any possible and available tools. Bitcoin is one of those tools.

Yep, fiat would be the wrong choice for anyone in those location, although some would argue that because they think holding would be best since they might be in need of food and shelter, but that is not true, bitcoin is a better option in this situation. Imagine anyone holding Ruble at this time that the Russian economy is having a meltdown, their money would also losing value and won’t be able to afford much for them right now. But, if you have invested in Bitcoin it would have been much better for you right now, as Bitcoin has been adding more value.