Bitcoin VS Oil VS Russia VS Ukraine

[Odette112]

The current event taking place in Ukraine have lead to scarcity of oil and inflation o commodities that needed oil...

But how does this events affects the price of bitcoin and crypto currencies in general since now Ukraine and people in Russia use crypto?

Are the government going to also sanction exchanges and wallet owners?

Please I need you guys views on this

[Despairo]

The Russia vs Ukraine war doesn't affect Bitcoin price, the price only change little 0-5% per day which is a normal volatility by the market!

Either Russia or Ukraine before this war, doesn't ban Bitcoin and allow their citizens to use it. So this doesn't mean Russian and Ukraine citizens using Bitcoin during this war only! They also doesn't care with any asset or currency, because foods is the important thing for them.

Government can force centralized exchange to freeze Russian citizens, but they can't freeze non custodial wallet! This is why we need to avoid centralized exchange and use decentralized one.

[The Cryptovator]

Are you afraid? What's wrong with Bitcoin? Seems it has been playing fine. I can't see much effect on Bitcoin due to the current Russia-Ukraine war. Listen, Bitcoin is part of the global economy now and the volatility of Bitcoin is normal behavior. It's true a few bad news make people panic which leads to the dump for a while. The war directly affects oil since Russia is the one of Biggest oil exporters and Europe imports from there. No one still prevents Russian or Ukraine Citizens to use Bitcoin. They are free to do even in Ukraine collecting donations through Bitcoin.

[mk4]

The thing with bitcoin and markets in general is that having good news doesn't automatically convert into a price increase — this being a great example; after some people realize the importance of Bitcoin after the Ukraine-Russia situation and the Canadian Trucker protest situation you'd think that bitcoin should be rising in price. But what happened? It didn't. If anything, we've still been slowly but surely going down.

tl;dr there are so much moving parts in markets in general that you shouldn't be making decisions off individual "events".

[Ozero]

I live in Ukraine and I don’t see that the current war with Russia has somehow changed the attitude of Ukrainians towards cryptocurrency. Perhaps now it’s somehow not up to her, or the fact is that the official national currency, the hryvnia, has fallen in price by only a few percent. At the same time, food prices have gone up a lot, some by two or three times.
I consider the difficulties with oil and the rise in its price to be temporary. A reorientation is taking place in the world: the market is being replaced from Russian oil due to aggression against Ukraine and imposed sanctions, to oil from other countries, including Iran and Venezuela. At the same time, Russia is steadily sinking.

[jossiel]

I consider the difficulties with oil and the rise in its price to be temporary.

This is true, once things have been settle on both sides and the supply of oil goes again in the market and there's a new supplier for USA. Then the price for everything is going to be down. Just like price of oil during the pandemic it was incredibly low, now it's the opposite.

But that didn't stayed for long, this time it's crazily high but I believe that it's not going to be up forever. Well, we just have to endure all the price increases and I believe that the impact will also go along with bitcoin's price and it'll increase.

[Ararbermas]

The current event taking place in Ukraine have lead to scarcity of oil and inflation o commodities that needed oil...

But how does this events affects the price of bitcoin and crypto currencies in general since now Ukraine and people in Russia use crypto?

Are the government going to also sanction exchanges and wallet owners?

Please I need you guys views on this

i don't know if they really implement those rumours about freezing exchange account because surely it will be a big problem in the market as well, i mean there will be an impact in crypto market since most of them are now relying in crypto to bypass sanction..

And for me IMO i dont think that inflation of oil gas and etc can affect the market because they're not on the same market.. So its impossible.

[STT]

I dont think its an issue unless you are asking as one of Putin's cronies then possibly they might have funds lost with any contact with a mainstream company as usually theres a bank involved etc.    BTC overall isnt going to see a problem as its all open ledger and its possible to see that people have no contact with Russia most of the time.  I dont think they are perusing the Russia people just the elite who feed off the population to wage wars on civilians like we are currently seeing.

Last I heard is an attempt to lock down any gold sales, billions are stored in this form as an alternative to dollar foreign reserves for the reason of avoiding sanctions over war crimes.

[adaseb]

This war does affect Bitcoin price but it’s not affected directly. By being affect directly would be if the Russians all bought Bitcoin with their rubles and caused the price to sky rocket. Which is not the case.

The way the way affect Bitcoin is that Bitcoin follows the global stocks. Not all the time but since covid it follows them pretty well.

So if the stocks start to go down due to the war so will Bitcoin. If the war is bullish like those analysis says then Bitcoin will follow stocks and also go up.

[TravelMug]

The current event taking place in Ukraine have lead to scarcity of oil and inflation o commodities that needed oil...

But how does this events affects the price of bitcoin and crypto currencies in general since now Ukraine and people in Russia use crypto?

Are the government going to also sanction exchanges and wallet owners?

Please I need you guys views on this

They can sanction if for sure, but can they actually know who the owners of the wallets are? No.

So there is nothing to be afraid with crypto or bitcoin right now, yes we are in a war and it is really ugly but as bitcoin is decentralized no one can stop it today, not government that are in at war or nation that thinks bitcoin is being used by Russia to circumvent the sanctions.

[Poker Player]

The current event taking place in Ukraine have lead to scarcity of oil and inflation o commodities that needed oil...

I will point out. It has not led to a shortage of oil, more than there was, it has led to a reduction of purchasable energy in certain markets. There is approximately the same amount of oil and gas in the world as there was before the outbreak of the war a few weeks ago; it is another thing if you do not want to buy from Russia. And it should be noted that the EU, for example, continues to buy gas from Russia, although it plans to greatly reduce the amount of gas it buys from Russia.

In addition, inflation and the rise in energy prices was already there, and the war has only exacerbated it.

But how does this events affects the price of bitcoin and crypto currencies in general since now Ukraine and people in Russia use crypto?

Well, that's an unknown and if someone knew for sure what was going to happen he would easily become a millionaire.

Are the government going to also sanction exchanges and wallet owners?

Please I need you guys views on this

Another unknown. Apart from the blocking of accounts of some Russian citizens in exchanges, I think everything will remain more or less the same. The only thing I hope is that more and more people will learn "not your keys, not your Bitcoin" for what it's worth.

[pooya87]

The current event taking place in Ukraine have lead to scarcity of oil and inflation o commodities that needed oil...

What scarcity? Ukraine didn't have oil and Russia is still exporting its oil. So far only US has sanctioned Russian oil which is only 2%. Unless I missed the news of others also sanctioning it, there is no scarcity yet. The only issue right now is the panic buyers and the broken system that sets prices of these things.

But how does this events affects the price of bitcoin and crypto currencies in general since now Ukraine and people in Russia use crypto?

It is irrelevant whether they use bitcoin or not.
But generally speaking inflation can affect bitcoin price in my opinion in a very positive way. Energy crisis is hastening the inflation.

Are the government going to also sanction exchanges and wallet owners?

Yes they will sanction anything centralized. But they can never do anything to anything decentralized like bitcoin.

[JohnBitCo]

The current event taking place in Ukraine have lead to scarcity of oil and inflation o commodities that needed oil...

But how does this events affects the price of bitcoin and crypto currencies in general since now Ukraine and people in Russia use crypto?

Are the government going to also sanction exchanges and wallet owners?

Please I need you guys views on this

Your question needs a bit more clarity. Do you mean the Russian government will sanction exchanges, which they would not? Ukraine's government is taking donations in crypto, so they can't even think of putting sanctions on wallet owners. Also, most of the exchanges have refused to block the exchange accounts for the people of Russia.
Overall, people have come to know the importance of bitcoin in war times and indirectly this will have a bullish impact on bitcoin prices in long run.

[Wexnident]

It doesn't, well, at least if it is going to, hasn't affected the market yet. I honestly don't think it even is going to impact the market, even if it would, it'd be rather negligible. The biggest impact it could've had should've happened prior to or at the start of the war, and seeing nothing has really changed, I don't think it did anything. The market movement is still the general steady movement it has done in the past few weeks, it's the market sentiment itself (which may or may not include the war issue, but it certainly isn't alone on that).

Are the government going to also sanction exchanges and wallet owners?

Maybe, if they see that crypto has a big enough impact to affect the situation in Russia, though it won't likely happen since crypto is more of a personal thing.

[davis196]

The current event taking place in Ukraine have lead to scarcity of oil and inflation o commodities that needed oil...

But how does this events affects the price of bitcoin and crypto currencies in general since now Ukraine and people in Russia use crypto?

Are the government going to also sanction exchanges and wallet owners?

Please I need you guys views on this

The war in Ukraine creates panic and uncertainty and this panic can spread across multiple markets.
The traders/investors on the crypto market are people,they could be influenced by panic and fear.
There's no mass adoption of crypto in Russia and Ukraine,it's just the fact that both countries imposed more liberal regulations over crypto.This doesn't mean that suddenly millions of people in Russia and Ukraine started using cryptocurrencies.
There's no actual scarcity of oil in the western world right now.Most of the western countries have oil reserves,which could last for 90 days.The real oil shortage in the west might begin during the summer,if the war in Ukraine(and the western sanctions) continues for more than 90 days.

[usekevin]

Are you afraid? What's wrong with Bitcoin? Seems it has been playing fine. I can't see much effect on Bitcoin due to the current Russia-Ukraine war. Listen, Bitcoin is part of the global economy now and the volatility of Bitcoin is normal behavior. It's true a few bad news make people panic which leads to the dump for a while. The war directly affects oil since Russia is the one of Biggest oil exporters and Europe imports from there. No one still prevents Russian or Ukraine Citizens to use Bitcoin. They are free to do even in Ukraine collecting donations through Bitcoin.

As you said, the bitcoin was exception one of this option.Because the bitcoin price is just get reduced due to market situation.With my knowledge, only the bitcoin was used by Russia and Ukraine people with out the knowledge to the government. Even after the block of Swift transfer, Russian government not official declaration to use of bitcoin for their transaction.It was belief of they using of crypto in the transaction in Russia and No official statements.

[hatshepsut93]

The amount of Bitcoin volume happening in both Ukraine and Russia is not significant enough to affect the price. The biggest thing that can happen is the use of Bitcoin by these countries influencing the decision on crypto regulation made by the West, since they are the economic powerhouse. Bitcoin used to avoid sanctions by Russia = more Bitcoin restrictions; Bitcoin used to help Ukraine = more favorable regulation.

[coupable]

The current event taking place in Ukraine have lead to scarcity of oil and inflation o commodities that needed oil...

But how does this events affects the price of bitcoin and crypto currencies in general since now Ukraine and people in Russia use crypto?

Are the government going to also sanction exchanges and wallet owners?

Please I need you guys views on this

They can sanction if for sure, but can they actually know who the owners of the wallets are? No.

So there is nothing to be afraid with crypto or bitcoin right now, yes we are in a war and it is really ugly but as bitcoin is decentralized no one can stop it today, not government that are in at war or nation that thinks bitcoin is being used by Russia to circumvent the sanctions.

There is no reason for fear about banning wallets because this is technically impossible. The fear is for investment who intend to reach a high profit from investing in bitcoin for short term ; the actual situation of high price volatility remains to be so risky for all of them.
If we can reach out statistics about the amount of bitcoin circulating for Ukraine and Russian users, i think we will conclude how significant it is to affect the price and the circulating supply in whole ; one country is using it to avoid sanctions while the other is using it to accept financial aid from its supporters .

[darkangel11]

The Russia vs Ukraine war doesn't affect Bitcoin price, the price only change little 0-5% per day which is a normal volatility by the market!

Either Russia or Ukraine before this war, doesn't ban Bitcoin and allow their citizens to use it. So this doesn't mean Russian and Ukraine citizens using Bitcoin during this war only! They also doesn't care with any asset or currency, because foods is the important thing for them.

Government can force centralized exchange to freeze Russian citizens, but they can't freeze non custodial wallet! This is why we need to avoid centralized exchange and use decentralized one.

It affects the price but only by creating short term volatility. In February where the army was ready and waiting at the Ukrainian border we had huge drops across all markets, not excluding bitcoin. You can't deny that and that was far more than 5% we went from 44k to 34k USD.

In the long run we can expect bitcoin to follow its own path but if the war escalates on nearby countries the markets will take another hit and so will bitcoin. It happens because the same investors who invest in bitcoin are often present on traditional markets. When they take a hit they try to save themselves by selling all across the board.

[arwin100]

The current event taking place in Ukraine have lead to scarcity of oil and inflation o commodities that needed oil...

But how does this events affects the price of bitcoin and crypto currencies in general since now Ukraine and people in Russia use crypto?

Are the government going to also sanction exchanges and wallet owners?

Please I need you guys views on this

There's no sanction happen towards wallet owners so far so you don't need to get afraid of this since so far exchange owners and wallet providers are neutral towards this issues. Also the only thing affect crypto on this situation is the possible crisis brought by this war that's why many people got afraid and immediately dumo to secure their profit or asset but as you can see those are short term only and now we can see thay bitcoin became stable and doing good right now.