A month of WAR

[romero121]

A month got over on war between Ukraine and Russia. Here I would like to point out things that happened with bitcoin during this time period.

• The market was moving around $39k and on the sudden invasion of Russian force into Ukraine the markets crashed close to $35k.
• Coinbase paid a hacker $250k for saving a billions worth cryptocurrencies. If this has happened the market would've turned downwards further.
• Western Nations decided to cut off Swift from Russia.
• Once again eBay came with the plans of accepting bitcoin as payment, but this has been a story for long years.
• Sanctions made over Russia and this time US asks cryptocurrency exchanges to follow the same rules of sanctions. The same is being requested by the Ukraine Vice Prime Minister.
• Russian people started to use cryptocurrencies as a way to overcome the sanctions.
• Visa and MasterCard stopped their services in Russia.
• Women's Day event took place around the globe with different surveys detailed the increase of women into cryptocurrency.
• Biden Signed the Crypto executive order which made the market progress to small extent.
• A bitcoin address holding 489BTC got active after a 11.4 years.
• Elon Musk made a tweet of holding bitcoin and ethereum, mentioned he won't sell it. This time his tweet didn't made any impact on the market.
• Official announcement on receiving donation in terms of cryptocurrencies were posted by Ukraine Government. Until now more than $65million received.
• Ukraine's President Volodymyr Zelenskyy signed the law to officially legalize cryptocurrency.
• Crypto.com is now an official sponsor for the FIFA.

Even more incidents took place during the same time period. If something to be added please post it, I'll add to the list.

[pooya87]

• Russia started to use cryptocurrencies as a way to overcome the sanctions.

Russia, the country, didn't start using cryptocurrency to overcome sanctions.
Some people in Russia started buying bitcoin as the local currency started losing its value. And again some people are starting to use bitcoin as payment to overcome sanctions.

• A bitcoin address holding 489BTC got active after a 11.4 years.

Nothing new here

• Elon Musk made a tweet of holding bitcoin and ethereum, mentioned he won't sell it. This time his tweet didn't made any impact on the market.

"This time" LOL. Musk's impact on the market stopped in early days when he started pump and dumping Doge which I think was a year ago, maybe longer.

[romero121]

• Russia started to use cryptocurrencies as a way to overcome the sanctions.

Russia, the country, didn't start using cryptocurrency to overcome sanctions.
Some people in Russia started buying bitcoin as the local currency started losing its value. And again some people are starting to use bitcoin as payment to overcome sanctions.

Yes, It is the people of Russia using cryptocurrencies and not the Russian government.

• Elon Musk made a tweet of holding bitcoin and ethereum, mentioned he won't sell it. This time his tweet didn't made any impact on the market.

"This time" LOL. Musk's impact on the market stopped in early days when he started pump and dumping Doge which I think was a year ago, maybe longer.

Based on this tweet I made the point. Tweet from Elon Musk

[pakhitheboss]

There are three points on that list that should make everyone happy are.

Women's Day event took place around the globe with different surveys detailed the increase of women into cryptocurrency.

I was reading an article that said out of 3 women 1 is interested in investing in cryptocurrency in 2022. Mass adoption is on the way.

Ukraine's President Volodymyr Zelenskyy signed the law to officially legalize cryptocurrency.

This was supposed to happen as they have been accepting cryptocurrency donation.

Crypto.com is now an official sponsor for the FIFA.

This is a massive and aggressive marketing strategy by crypto.com. They have been sponsoring tournaments earlier too but this is very big.

[qwertyup23]

So many things happened within just a single month that can be affecting cryptocurrency in general and the recent announcement of the possibility that Russia may accept Bitcoin in exchange for its oil and gas is also worth noting though I am not sure if that one can fit within OP's one month window nevertheless it is a major news for Bitcoin as now  we see both Russia and Ukraine getting into cryptocurrency for different reasons. Now, the next few weeks may hold some surprises for all us who are into cryptocurrency and I am hoping things can be for good.

While the effects of war can be significantly devastating affecting almost all countries in the world, the silver lining here is that Ukraine is now accepting cryptocurrencies for its donation purposes. Not only that but it also sees the opportunity of accepting cryptocurrencies by legalizing its transactions in their country. Soon thereafter, countries would follow these footsteps and start integrating cryptocurrencies into their daily transactions.

I just hope that the war will soon end. Countless of unnecessary blood spilling happened. Though we cannot deny this fact, we also cannot deny that cryptocurrencies play a vital role in this unfortunate scenario.

[HODLN]

• Visa and MasterCard stopped their services in Russia.

• Russian people started to use cryptocurrencies as a way to overcome the sanctions.

Cryptocurrencies always work for the common man- not the institution, not the government, only real people. I just hope that this isn't misrepresented as "Russia" rather than the innocent people residing within its borders.

[coupable]

Women's Day event took place around the globe with different surveys detailed the increase of women into cryptocurrency.

I was reading an article that said out of 3 women 1 is interested in investing in cryptocurrency in 2022. Mass adoption is on the way.

The percentage appears to be very high compared to the real number of women in the world. I think it may have resulted from testing a limited group of women.
According to recent researches, only 16% of men use cryptocurrencies vs just 7% of women : https://www.cnbc.com/2021/08/30/cryptocurrency-has-a-big-gender-problem.html
Maybe you refer to the cryptocurrency lending platform BlockFi who polled more than 1000 American women to determine their awareness and feelings toward the cryptocurrency sector. According to the results, every woman in three plans to invest in cryptocurrency by the end of the year, while 60% said, they will buy cryptocurrency in the next three months. 1000 women is not a considerable number imo .

[HODLN]

I agree. Something is heavily skewing that stat. Does anyone have a link to the 1/3 number? I wonder why exactly the number is ~4x higher percentage than other polls. Maybe some localized area that has unusually heavy support for btc?

[Doan9269]

Russia, the country, didn't start using cryptocurrency to overcome sanctions.
Some people in Russia started buying bitcoin as the local currency started losing its value. And again some people are starting to use bitcoin as payment to overcome sanctions.

In addition to the occuring events in Russia, many potential crypto investors left Russia for UAE selling off their crypto assets to start a real estate investment in the region.

Another one is that Putin made a statement for international companies having their operations in Russia to vacate their representatives else they face his life threatening sanction.

[BIT-BENDER]

The Russian citizens has started to move into crypto-currency the more, during this month period of war.

We have seen the government of Ukraine started a donation program using the Crypto-currency format, we also had seen the United States of America president speak well about Crypto-currency, although we didn't see much price increase this year I still think it was a good year for crypto-currency.

[Marvelman]

In addition to the occuring events in Russia, many potential crypto investors left Russia for UAE selling off their crypto assets to start a real estate investment in the region.

Where did you get such information? I know that some oligarchs have left Russia, but how can you know they have dumped their crypto assets for real estate? Where is the proof, and what is the source of the information?

[||bit]

The war happened and had influenced the lot of the country economy.Due to the war,the price of crypto was reduced.Most of the investors had not even had their regular diet in the food items.Now the price of most of the coin was recovered of 30-40 percentage of old value.After this 20 percentage of total investors had cashed out their entire funds to Fiat.

[oudomopo]

It has been a month and 2 days since I am writing this. Before the war started, the stocks and crypto was crashing due to Russia threatening to invade Ukraine. (which happens to be true) When Russia was threatening to invade, bitcoin plunged all the way below $37,000 and many people were worried. When the war began, Bitcoin suddenly went up and it happened. As of right now, bitcoin has not grown much since January. Bitcoin is swinging between $35,000-$45,000.
Since March 13th, Bitcoin jumped to almost 15% and since been growing. Right now it is slowing down a bit, but hopefully it would reach it's Early-January peak by the beginning of April.

[hatshepsut93]

• Western Nations decided to cut off Swift from Russia.

Russia is not fully cut from SWIFT, certain banks were, while others still work with it.

• Sanctions made over Russia and this time US asks cryptocurrency exchanges to follow the same rules of sanctions. The same is being requested by the Ukraine Vice Prime Minister.

IMO it will be a matter of time until regulators will make it a law and crypto exchanges will face a hard choice whether they want to operate legally or not

• Visa and MasterCard stopped their services in Russia.

Only international transactions are blocked, domestic still work.

• Official announcement on receiving donation in terms of cryptocurrencies were posted by Ukraine Government. Until now more than $65million received.

And the total donations for Ukraine are even higher, if you consider that there's a lot of NGOs who work for helping Ukraine.

[coupable]

• Western Nations decided to cut off Swift from Russia.

Russia is not fully cut from SWIFT, certain banks were, while others still work with it.

Does this mean that the general Russian people can use this service through some of the few banks that have been exempted from the sanctions? of course not.
Those banks were excluded from the boycott so that suppliers could acquire gas and oil using the same currency and the same method of payment. This is in addition to the alternatives offered by Russia in return for exiting the Swift system, which do not amount to being called a real alternative, given that the number of those involved in it does not exceed a few hundred financial institutions, while those involved in the Swift system are in the thousands.

[Mauser]

A very good summary of the impact of the Ukraine Russia war. A few things I would like to add. After the intital days of panic it became clear that this war will not be start WW3 and it is going to be an isolated conflict. The West and Nato can't risk to go to war with Putin over Ukraine. That is why bitcoins rebounded and trade now higher than at the start of the war. Life has to go on for the rest of there war. There are negative impacts from the war itself but also from the sanctions. That's why any country close to Russia is calculating the cost of the sanctions on their economy. Turkey and China probably being the biggest cases, both countries rely on good relations to Russia. As for Europe there is no real alternative for the energy coming out of Russia. All the gas contracts can't just be stopped overnight.

[GreatArkansas]

A month got over on war between Ukraine and Russia. Here I would like to point out things that happened with bitcoin during this time period.
(.....)

Even more incidents took place during the same time period. If something to be added please post it, I'll add to the list.

For my side, this seems to be more challenging for everyone, even what we experiencing these days bad times or good times, there will be always a good result for Bitcoin or a positive effect. Just like the issue right now on Russia/Ukraine, lot of sanctions for payments, so this is the best time to use Bitcoin and it is useful.
 

Another can add is what issue that found on Chrome browser, as we all know Chrome is one of the popular browsers and there is issue that found that user could possibly get hacked.

[Ale88]

After the intital days of panic it became clear that this war will not be start WW3 and it is going to be an isolated conflict.

Well, I'm glad to see that you were so sure about this, because honestly I wasn't. Probably this is the closest we've been to a potential WW3 since the Cold War times: starting a war only a few hundreds miles away from Poland, Germany, Italy... With all due respect with the conflicts in the Middle East and in Africa, this time it could have really escalated. I just hope all this will end ASAP.

[kryptqnick]

Not all the mentioned events are related to the war, so I guess separating those directly related (like some Russian banks being cut off from SWIFT and Russians using cryptos to overcome sanctions) and those completely unrelated (Coinbase paying a hacker and an old BTC address getting active) could be helpful. Then again, some fall in the middle (like Zelensky signing the law, since it was supposed to happen anyway, but also it's kind of related to the war, given all the crypto donations Ukraine's getting). I think a thing that could be added is that Bitcoin surpassed Russian ruble by market cap. I couldn't find 100% legit reports of this, though.

[buwaytress]

^Bitcoin surpassed ruble on market cap? That's pretty cool, but more like ruble's come down below Bitcoin's. Milestone nevertheless!

Another can add is what issue that found on Chrome browser, as we all know Chrome is one of the popular browsers and there is issue that found that user could possibly get hacked.

And this has an impact on Bitcoin how? Not the first time a browser will find an issue, not the first time it'll be blamed for some hack here or there, won't be the last time by any means. We need to stop seeing any kind of bad news with general digital security as something relevant to Bitcoin.