Bitcoin and Ukraine war

[Vaskiy]

What we can see with the ongoing war is the transition. Countries that depend Russia for oil will now think of green energy and will be developing infrastructure. Every nation could've done this earlier. If so, now they shouldn't need to wait for Russia or other countries for oil. As majority of the countries untied and made sanctions on Russia, surely it will cause issue with the oil price. Probably the oil rich countries will fix the price whereas people from third world countries will suffer.

[GreatArkansas]

In my opinion, because of the war, most people avoid high-risk assets such as bitcoin and other digital currencies!
(....)

I am really curious why are most people avoid high-risk assets? Just like Bitcoin. I really don't find any reason for it. Because when I think of it, especially the use cases of Bitcoin, it is the best time to use Bitcoin or other digital currencies right now. It's more on use cases for me during these difficult times other than investment.

[suzanne5223]

The bitcoin market has also been affected by growing concerns about Russia's invasion of Ukraine.
But Bitcoin has been falling in the last 24 hours and is currently trading at around $ 37,794.
But the oil situation is quite the opposite. Just look at the price of oil and realize that this war has had a huge impact on the price of oil and safe-haven assets like gold.

I hate it when you guys believe the Russian and Ukraine conflict is the only reason why Bitcoin is experiencing some market dump in price whereas the market is always volatile in nature and the market is already in the realm of high volatility in price before Russia and Ukraine issue happen.
Have you forgotten there always be both sides of price movement after the halving effect market before blood bath?

[Slow death]

the bitcoin price is fluctuating normally, the war doesn't seem to be having a big impact on the bitcoin price, just seeing that the price is stagnant between $37000 to $44000, in my opinion people are worried about saving their life, the support that the international community is giving is support in material goods, and bitcoin is being used less in this situation so the price is not being affected, I heard about the donation of 37 million in bitcoin. but that's all I've read. I didn't see any other news in which it said that bitcoin is being useful in this time of war

[Jawhead999]

So it is natural that most people, because they do not know the reaction of bitcoin, turn to other assets such as gold and oil.

Before making a point, you to do own research first. Look at gold price [1] it's decrease not increase. This mean Bitcoin, Gold, Fiat (Ruble) price is decrease because those asset are purposed to store a value and currency. If the war become bigger entire the world, those asset will become worthless since there's no demand about that. They're looking for foods and any other stuffs to survive during the war.

Why does Oil price increase? because anyone need oil for their vehicles, produce electricity etc.

[1] https://goldprice.org/spot-gold.html

[bitterguy28]

The bitcoin market has also been affected by growing concerns about Russia's invasion of Ukraine.
But Bitcoin has been falling in the last 24 hours and is currently trading at around $ 37,794.
But the oil situation is quite the opposite. Just look at the price of oil and realize that this war has had a huge impact on the price of oil and safe-haven assets like gold.

whether Bitcoin is affected, or OIL or even the Gold? still there are effect for the world and the crisis still on so best to dedicate our investment now in real business. i mean let our funds stays in crypto and some other funding go to real life like food businesses or some practical things that can make us earning while waiting .

[Fundamentals Of]

The use-case of Bitcoin is more emphasized during times of war when banks are not functioning, ATMs not refilled with cash, streets abandoned, and people are evacuating. The transfer of wealth from one country to another is easiest with Bitcoin. You cannot easily cross international borders carrying with you a massive amount of cash. Not to mention that in times of war, the fiat currency of affected countries will fall because of the unstable economy and sanctions.

[iamsheikhadil]

It might be that people who already invested in Bitcoin in the war-involved countries are selling because as you said, there is uncertainty in their minds about outcome of prices in future in this war, but I think Bitcoin is too big to be impacted by such and hence it is just following its usual trend which is bearish at the current moment, also, not everyone knows about Bitcoin in those countries so the volume of buying and selling of Bitcoin in there might be too small to make a significant impact!

[ChiBitCTy]

I think it’s mostly seen as a higher risk asset like the stock market right now. It’s going to take time to become a better safe have asset. That being said, in years past bitcoin had been through much worst and things would have been much worse but I feel that things have stayed relatively stable all things considered.

[davis196]

Are you seriously asking why the oil price is going up?
There are concerns about Russia cutting the oil supply to Europe.Reduced supply+higher or static demand means a higher oil price.This is just law of supply and demand.Bitcoin has nothing to do with this.
The western investors might not like buying Bitcoins,because a big percentage of BTC miners are located in Russia and Kazakhstan,which means that Russia might try to crash the BTC price,by imposing a ban over the BTC miners.However,this is just a hypothesis.
Gold and commodities will beat BTC as a safe heaven assets and more speculative investors will forget about Bitcoin(for a while) and jump on the commodity markets.I hope that Bitcoin will start growing after the war is over.

[Kakmakr]

So, everyone are saying that the war (political instability) are causing the drop in the price, but how do they explain the increase in demand for bitcoins by the Ukranians to protect their wealth from Banks and also Russian people trying to protect the value of their wealth against possible hyper inflation in the future?

I think a large amount of institutional investors got a bit trigger happy and they started a ripple in the pond... by dumping a lot of their coins in the early stages of this conflict between the Ukraine and Russia.   

[pooya87]

What we can see with the ongoing war is the transition. Countries that depend Russia for oil will now think of green energy and will be developing infrastructure. Every nation could've done this earlier.

They have been doing it. Trillions of dollars have already gone into going "green" but the problem is that these methods are not enough to provide the energy the world needs and worse thing is that many of these so called "green" methods are damaging the environment a lot.
The truth is that the world will continue relying on fossil fuels for the foreseeable future and whenever there is any kind of shortage, the prices will soar.

[rodskee]

why focusing in the bat effect of the war when there are also good in effect ? because Nowadays I believe that Ukrainian and even Russian are protecting their funds inside crypto and surely they are buying Bitcoin as majority coin and the safest.

I'm not sure what is the main objective of people connecting the dropping of price in this War but i'm sure this has not really in big effect .

[avikz]

Is the price of gold now increasing? In fact just yesterday I sold gold at a price below when I bought it yet with a discount. But in my opinion, the decline in the price of bitcoin will not last long when the war is in progress. I think that many parties need bitcoin as a means of payment, for example, tools of war, weapons and so on.

Yes, gold price is increasing and silver is also following the same pattern. However, it slightly differs from country to country. It also depends on the form of gold you have used and sold. If you had paper gold, you might have enjoyed the complete price without any making charges. However, if you had physical gold, making charges has been deducted from the final price. That's a common practice, at least in my country.

Bitcoin is definitely a good choice for the people affected by war! But considering its volatile nature and also limited acceptability is probably keeping the people away from it. Rather they are looking into gold and other metals for capital safeguard.

[Wong Gendheng]

why focusing in the bat effect of the war when there are also good in effect ? because Nowadays I believe that Ukrainian and even Russian are protecting their funds inside crypto and surely they are buying Bitcoin as majority coin and the safest.

I'm not sure what is the main objective of people connecting the dropping of price in this War but i'm sure this has not really in big effect .

I think so, before the Ukraine vs Russia war bitcoin has experienced a downward trend since November, I believe that the war will not have much impact on cryptocurrencies, the thing that is more difficult than war is of course the pandemic period that makes many people go bankrupt but bitcoin's performance can skyrocket.

[Reatim]

not unless the whole world will participate in this war? bitcoin will not be much affected of this war instead this is another opportunity for the Bull coming .
because Both countries before this war happens are considering to be inside crypto specially bitcoin so what can we expect from them both considering that they are now looking for the best way to save their funds while at war?
in the following days or weeks we will see this effect for sure.

[Ararbermas]

I don't believe its because of war reason bitcoin fluctuate at the moment, and also gold and oil increased because investors jump in into it to take advantage the hype. Seems wrong!
Because smart investors don't based on the current situation of the market as it's all temporary situation only and despite its clearly that bitcoin still suffering from bearish because of some weak hands that keep selling.

And infact bitcoin nowadays is very useful for Ukrainians especially when it comes donations, So i dont think its a valid reason why bitcoin is making correction right now.

[Ozero]

What we can see with the ongoing war is the transition. Countries that depend Russia for oil will now think of green energy and will be developing infrastructure. Every nation could've done this earlier. If so, now they shouldn't need to wait for Russia or other countries for oil. As majority of the countries untied and made sanctions on Russia, surely it will cause issue with the oil price. Probably the oil rich countries will fix the price whereas people from third world countries will suffer.

Yes, European countries even before the war had programs to switch from oil and gas consumption to renewable energy sources. This is primarily due to the need to take measures to prevent abrupt climate change. The current biggest war in Europe since World War II, in which Russia is trying to seize Ukrainian territory, should also change attitudes towards Russian oil and gas. Europe no longer wants to depend on the Russian energy market. So far, they are partially reoriented to other countries, such as Iran, Venezuela and others.

[nur rochid]

I don't believe its because of war reason bitcoin fluctuate at the moment, and also gold and oil increased because investors jump in into it to take advantage the hype. Seems wrong!
Because smart investors don't based on the current situation of the market as it's all temporary situation only and despite its clearly that bitcoin still suffering from bearish because of some weak hands that keep selling.

And infact bitcoin nowadays is very useful for Ukrainians especially when it comes donations, So i dont think its a valid reason why bitcoin is making correction right now.

From this point of view, the largest Binance Exchange is currently donating to Ukraine, and this is a form of solidarity with Bitcoin. I think the current fluctuations are only because of the psychological war of investors who are unable to hold their assets any longer, or they have an analysis that prices will fall again due to the war that has not yet been resolved. therefore I think we must be smart investors in order to take advantage of the current opportunities

[Lucius]

It is evident that the Russian sanctions are related to the occurrence of an increase in the price of oil and gas. There is fear of a possible embargo of Russian oil by the United States.

The price of gas and oil rose significantly a few months before the war, and gas still flows from Russia through Ukraine to the EU - which means the EU finances the war in some way, a bit paradoxical given all the sanctions it imposes on Russia, right?

Elon Musk in a tweet said:
Hate to say it, but we need to increase oil & gas output immediately.
Extraordinary times demand extraordinary measures.

Isn't Mr.Mars a big proponent of green energy and an opponent of fossil fuels? The hypocrite, who is calling out Bitcoin for dirty energy sources, is now afraid that he will run out of gas and oil - let him warm up on the batteries from his cars and make the world a greener place.