Bitcoin

Bitcoin Drops More Than 10% in the Last 24 Hours

President Vladimir Putin’s announcement that Moscow has decided to conduct a special military operation in Eastern Ukraine to demilitarise Ukraine plunged the world’s most dominant cryptocurrency, Bitcoin by over 9 percent in the early hours of Thursday.

Jumped in global uncertainty and risk that trailed President Putin’s announcement plunged the price of Bitcoin by 9.95% to $35,041.62 per coin on Thursday.

At around 6 a.m. Russian time, Putin disclosed he has ordered a special military operation in Ukraine and warned the West and other Western allies to stay off or suffer the consequence.

“Anyone who tries to interfere with us, or even more so, to create threats for our country and our people, must know that Russia’s response will be immediate and will lead you to such consequences as you have never before experienced in your history,” Putin said. He declared “We are ready for any turn of events.”

Ethereum, XRP and Stellar lost 13 percent each while Cardano, Avalanche and Shiba Inu dipped by over 18 percent each.

Besides crude oil and other haven assets that appreciated with the increase in global risk level, other assets plunged into the red zone. The analysts now look to assess Russia’s invasion and the gravity of the West sanctions on the eastern nation.
Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Samed Olukoya
3 years ago

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