Bitcoin Broke Its Chains! “New Story, New Rally”

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As of yesterday, Bitcoin broke the correlation it entered with the US stock markets since November.

Cryptocurrency investors, who have been following the pricing of the stock markets for about 5 months, took a sigh of relief with yesterday’s rise.

Positive Separated

While the US stock markets followed a horizontal and mixed course yesterday, Bitcoin experienced a 17% rise.

The war between Ukraine and Russia has a great influence on this rise. Because Bitcoin started a new story in this process.

The world has started to discuss the uncensored and libertarian aspect of Bitcoin again.

After the US sanctions against Russia, Russia imposed a serious limitation on the amount of foreign currency that its citizens can withdraw from banks. In addition, Putin banned the transfer of foreign currency abroad with a decree he published yesterday.

While investors who keep their deposits in banks against such pressures wait desperately for the government’s decisions, the importance of decentralized finance has been understood once again.

The Necessity of Bitcoin is Understood in Tough Times

At this point, in addition to the price increase caused by the Russians’ turn to Bitcoin, we see that the re-emergence of an old story increases the demand for Bitcoin.

The countries’ drastic economic measures against Russia and Russia’s own citizens have demonstrated how important it is to decentralize money and control it only by its owner.

Because the money that appears in your bank account but that you cannot control is not actually yours. This situation, which constitutes the founding philosophy of Bitcoin, can be considered as a rewriting of an old story in terms of financial markets.

We will be watching how long this story will keep the demand for Bitcoin alive in the short term. Meanwhile, we continue to see Bitcoin diverge positively from the US stock markets today.

At this point, those who focus not only on the speculative side of Bitcoin, but also on its technology and the opportunities it offers will continue to protect their assets in the long run.

*Not Investment Advice.

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