Leading cryptocurrency Bitcoin (BTC), It has dropped 8% in the last 24 hours, and the recovery process that had been going on for several days was thus shattered. The reason for this sharp fall of BTC was the new move of Vladimir Putin.
Russia Hits, Bitcoin Drops
Putin formally sent troops to Ukraine after separatist troops on the border requested help to fight the Ukrainian army. From the beginning of an operation from east to west of Ukraine, Putin has been bombarding various parts of the country since the night. In countless images shared on social media, it is seen that various places were bombed and rockets were fired.
A view from Kharkiv Airport. pic.twitter.com/KY3hlWFNM0
— Pusholder (@pusholder) February 24, 2022
While Bitcoin was trading above $ 37,000 before this decision came, it experienced a very sharp decline with the news. In his statement on the national broadcast, Putin himself stated that there would be a “special military operation” in Ukraine.
Such a move by Russia caused a sharp decline in BTC due to global uncertainty. On the other hand, there was an incredible increase in the price of oil. The barrel of oil saw $100 for the first time in a long time. The fact that Russia is the world’s 3rd largest oil producer points to a crisis not only for natural gas but also for oil.
Anthony Pompliano also touched on this issue, revealing that the situation is actually worse than expected.
Russia is the third largest oil producer in the world.
Oil just hit $100 a barrel.
The impact of this situation is going to be felt globally.
— Pomp 🌪 (@APompliano) February 24, 2022
Bitcoin is currently trading at $34,919 and is even below the $35,000 level. of BTC $34,000 Losing his support can make the situation very bad.