It is well known that the Russia – Ukraine war is causing waves in the assets market. The prices of valuable assets both digital and material have been showing unpredictable fluctuations and this will continue to happen until the world order stabilizes. There are still many interesting developments happening in the world of digital currency that is worth conjecture and discussion. The value of bitcoins has soared up in the last twenty-four hours despite repeated dips in the last few days due to international tensions.
Why is the value of bitcoin rising suddenly?
A leading American news agency reports that the crypto restrictions and regulations in Russia have resulted in the isolation of bitcoin from the global saga of decrements in assets. When Russia put a stoppage to its stock market, the value of its national currency fell by almost one-fifth. Buyers and shareholders started sweating over recovering lost assets. Besides, the head of the Russian state has also banned the international exchange of money and digital currency in his country. One can already feel the anxiety that follows after so many negative measures. This is what caused the rise.
As more Russians started to find out ways to get back their lost money, they might have decided that investing in more bitcoins would be a good idea. The value of bitcoins rose and this prompted an even stronger sentiment of positivity for crypto purchase. The strengthening and trust cycle continued and as a result, crypto values soared up regardless of how the rest of the assets were behaving.