Bitcoin prices falls after Russia attacks Ukraine
The world’s most valuable cryptocurrency Bitcoin prices fell down because of current crises between Russia and Ukraine. The Cryptocurrency Bitcoin prices are down by below 40000 dollar over this weekend and continue to slide amid the Russia Ukraine crisis.
Earlier the price of Bitcoin was trading at $34969 dollar as of 1 a.m. ET. It was down by 8% as compared to its previous day prices.
The drop in Bitcoin prices is because of the situation created by the Russian activities in the Ukraine region. Cryptocurrency Bitcoin has lost almost half of its value since it’s November prices that were high at $6890. This decline is due to the geopolitical tensions and the prospect of interest hikes by the US Federal Reserve and also because of the curbs by some major economies on these digital assets.
Apart from Bitcoin, other cryptocurrencies dropped on Thursday. The cryptocurrency like Ethereum also declined more than 12% and Dogecoin was also down by for 3% according to the CoinMarketCap.
According to the market Ethereum was last trading at $2349 and 10 cents respectively.
Senior market analyst Edward Moya of America said in a statement that many crypto investors have been humbled by the last Crash.
It Is predicted that Bitcoin would likely continue to see decent resistance from the $40000 level as geopolitical tensions will prevent risky assets from mustering up much of a rally.