Why bitcoin is going up during war?

[killerfrost]

Cryptocurrencies make it easier and faster to donate and support military operations than ever before. The fact that people, even governments of some countries, use cryptocurrencies as a channel to mobilize resources for conflicts is a serious problem. It will continue to exist in the same way that the Internet was dragged into war. The war between Russia and Ukraine may be the "world's first crypto war" but it certainly won't be the last.

[Anonylz]

Aside from what analysts say (which are not usually correct 100%) the recent occurrence would make you believe it will have a negative effect on the market even without being an analyst, somehow the reverse was the case, am sure many people expected this too but things aren't going that way, there is a lot of fear regarding the war (even though it is between Russia and Ukraine) it is tied to people's emotions and feelings.

The initial reaction was fear when the war started but now it seems people understand the situation better and the fear is reducing, plus the role btc is playing during this period was unexpected and at the same time build more trust to buy even in the face of crisis.

[cryptoaddictchie]

Russia and Ukraine is on the midst of crisis. We can tell that their safeground is cryptocurrency and probably there are lots of buyers from these countries right now. Especially there are lot of freeze and sanctions done on Russia. You can see their own fiat money is going down then they could just parked it on btc while waiting for a right time again to strenthen their nation. Preserving the value of ones asset is a must especially if the world are condemning you.

[Argoo]

After the most severe sanctions imposed by the international community on Russia, inflation in this country is growing very quickly, the ruble is depreciating before our eyes. In this case, it would be absolutely logical in Russia to escape from sharp inflation by buying cryptocurrency. In Ukraine, I do not yet see a significant increase in prices or the hryvnia, although due to the disruption of food supplies and hostilities in most of the country, the situation is also rapidly deteriorating.
However, the rest of the world practically lives a normal life. There are no grounds for falling prices in the cryptocurrency market. That is why cryptocurrencies show the usual volatility: after a fall, there is a period of slight growth.

[Reatim]

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?

you know what is your problem here? you keep believing in Shitpost and misinformation , imagine you tend to believe that 100k is possible last year when there are no really sign of this reaching that top?
instead of reading and believing , why not do your own homework?
search for Histories , for the movement and graphs and also learn technical analysis because that will save your ass in investing.

[Kakmakr]

Political instability force investors to shift money out of traditional investments and into so-called "Safe-havens". So, depending on who you talk to.. some people see Bitcoin as a "Safe-haven" and they are shifting their investments into Bitcoin now.

Russian citizens withdraw lots of Fiat from the Banks lately, so they might consider Bitcoin as a "Safe-have" and they might be buying bitcoins. In theory, if there are a larger demand for bitcoins ..the price should go up.

The economic sanctions will cause higher inflation or even hyper inflation in Russia (look at what happened in Zimbabwe) ..so people need some protection against that.  

[fzkto]

Perhaps the rise in bitcoin is another manipulation because not many people in Russia buy bitcoins. Here, on the contrary, most have withdrawn fiat from their deposits, some have bought dollars. So far, no one is thinking about cryptocurrency. Perhaps there is a demand for bitcoins because Ukraine is collecting donations in cryptocurrency.

[Mauser]

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?

There is no certainty with predictions in todays world. A prediction by "experts" is their own best guess how the future could look like with all information available at that time in the past. The crypo and also stocks crash at the end of last year came due to the new covid variant Omicron. Nobody really knew that we would get such a new variant that is spreading faster than Delta. In the end it turned out that Omicron is not as deadly as Delta and even with more covid cases things weren't as bad a year before. So maybe without the covid variant we could have reached 100k USD by christmas last year, who knows. As for El Salvador, I don't remember any prediction that said El Salvador has a huge impact on BTC price. It's a very small country with a weak economy, there is not a lot of demand from it.
Crypto prices recovered this year just to be hit by the Ukraine-Russia war. At the first day of the conflict I remember the news that WW3 is starting at the world is doomed, but since then it was public that no western countries will join the war and it will remain a conflict between Russia and Ukraine, and not Russia and Nato. Cryptos are a global project and many countries are not so much affected yet by the war. My advice is to not trust blindly predictions from experts, better to make up your own mind.

[Reatim]

~snip~
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?

What is certain is that every time there is an increase in the price of bitcoin, of course, because of purchasing power and maybe this is caused by the Russian and Ukrainian people because they think bitcoin is a good asset to serve as a store of value when the economy in their country is in chaos because bitcoin cannot be controlled by the central government so bitcoin will not be unduly affected by the emergency measures currently in force in the country.

So that is the reason why they both acknowledge accepting bitcoin recently before the war happens? does this mean also that Ukraine and Russia make their economy ready on this action?
now that the war started and Ukraine is accepting donation from crypto while russia is experiencing too much sanctions , what do you think would be the next step?
will Russia continue the process of adaptation or will pause for a while?

[onecall123]

As well as Bitcoin, the market capitalization of the crypto industry jumped back to $2 trillion. Analysts say Bitcoin's recent price increase can be attributed to its growing appeal as a financial alternative. As a result of heavy sanctions, Russians are selling rubles and buying bitcoin. Ruble's volatility could even surpass that of Bitcoin. Their economy is far too fragile and recovering to prewar conditions will be difficult. Despite its poor economic structure, Russia will not gain much from this. At the moment, Bitcoin only exists there as a safe haven.

[bakasabo]

Technical question - is it possible to switch Russia from the Internet or from Bitcoin mining pools? Or I dont know how to ask properly - is it possible to ban or expel Russia from Bitcoin blockchain? Or that is the trick of blockchain - anyone anywhere can use it?

Bitcoin is swiftly going up mainly due to war and financial sanctions. But lets imagine everything will be over tomorrow or sanctions would be cancelled. Would it trigger Bitcoin price to go swiftly down or it will remain on current level ?

[Ararbermas]

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.

so called experts? How did you know they are experts by the way  

If you're basing on how they provide information about the situation of the market for me probably we cannot call them experts, i mean you cannot trust them immediately because everyone in the space nowadays can make speculation and prediction about the market base on their views only.

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?

Bitcoin is not included on that war mate, wherein obviously bearish occurred reason some people say its affected but the truth it just a coincidence of the cycle of the market.

If i were you learn how to make technical analysis so that you will never rely on that so called experts.

[Rockstarguy]

Normally we all know bitcoin goes high when the demand in the market is high. Do you expect the price of bitcoin to drop because of the Russia-Ukraine  fight? In the past when Russia and Ukraine goverment haven't accepted bitcoin as a currency the price of bitcoin still go high, you can't really tell why the price of bitcoin is going high now that the Russia-Ukraine  are in war, it could also be that demand in the market is high that is why the price is going high.

[Henrobakkara]

Perhaps the rise in bitcoin is another manipulation because not many people in Russia buy bitcoins. Here, on the contrary, most have withdrawn fiat from their deposits, some have bought dollars. So far, no one is thinking about cryptocurrency. Perhaps there is a demand for bitcoins because Ukraine is collecting donations in cryptocurrency.

I kinda agree with you here about the Russian people buying Bitcoin or any other crypto for that matter cos we all know that at times like this, most are more concerned about having Fiat currency for daily needs however I don't think the rise in price in the past days is out of another manipulation. Even this Russian/Ukrain war, the market does witness up and downs in price, and if you are a bit TA person, you would judge differently too from what I see.

[kryptqnick]

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?

What's happening with Bitcoin is what I expected to happen. The war in Ukraine made cryptos very relevant because now so many people want to donate money to Ukrainian army, and doing it from all over the world is often simplest by transferring money to a Bitcoin wallet. Also, there are undoubtedly Russians, who can see the obvious: their economy is collapsing like never before, ruble is getting increasingly more worthless, and Putin is already restricting usage of foreign currencies and the right to pull one's ruble funds into good foreign fiat. So Bitcoin, once again, at least gives some chance of saving one's wealth or what's left of it. With Musk working on making satellite Internet available in Ukraine, cryptos will remain relevant for everyone, apart from those who are really poor and only have money they need to spend directly to sustain their basic needs.

[ChiBitCTy]

Yeah I think it’s about time that you’ve come to the realization (as well as for all of us) there are no guarantees or givens and these so called experts are mostly full of shit/completely guessing. I think the issue with Russians and Ukrainians banks and credit cards freezing are the catalyst behind the rise up. People see it’s value more than ever there.

[Odusko]

I yeah that is it Bitcoin is more established to be affected with happening most especially when it does not have any direct impact on its services, bitcoin will keep it moving in any situation be it war or whatever. The war has nothing to do with the price of Bitcoin and global adoption can only be possible when Bitcoin services are processed through the various interchange roots. March is predicted to be one of the most exciting months for Bitcoin bulls.

[buwaytress]

Member when Bcash split was supposed to be the civil war that would end Bitcoin? I member. Tag on China problems to that particular period. Tag on Ethereum Flippening. etc.

Then on rolled Bitcoin with that mutha of an ATH.

If there's anything I've learnt, Bitcoin does best with the odds stacked against it. It's unscientific, it's cherry-picking, but if it works, it works.

- Tupac Shakur buying

Can you stop giving away secrets? Trying to make a living here.

[Spacebar96]

Bitcoin's price may rise as a result of the conflict between Ukraine and Russia, as many individuals will want to maintain their precious asset and consider bitcoin as the greatest alternative for saving their money. When you consider factors that affect a country's economy and security, such as inflation, laws and policies, and government activities that affect a country's stability, individuals may opt for bitcoin as an alternative.

[glendall]

as we know, russia is the country with the most crypto holdings and blockchain projects are also many from russia,
it could be that there are many emergency transactions to save assets during war and they also believe in the value of bitcoin in the future and believe bitcoin can be an asset for the post-war period