Bitcoin and War

[FinlarK 24]

Russia produces a lot of oil. But because of the war, there are problems with the supply. Russia is being sanctioned by the whole world. There are even reports of Russian ships carrying oil being banned from entering certain ports. The result is less oil on the market but no shortage in demand. Therefore the price of the available reserves are going up.

[desong 18]

The bitcoin market has also been affected by growing concerns about Russia's invasion of Ukraine.
But Bitcoin has been falling in the last 24 hours and is currently trading at around $ 37,794.
But the oil situation is quite the opposite. Just look at the price of oil and realize that this war has had a huge impact on the price of oil and safe-haven assets like gold.

But what is the reason for this?

In my opinion, because of the war, most people avoid high-risk assets such as bitcoin and other digital currencies!
+How many wars have Bitcoin experienced so far?
-Nothing
So it is natural that most people, because they do not know the reaction of bitcoin, turn to other assets such as gold and oil. The escalation of the conflict between Ukraine and Russia will also cause more fear among investors.

First of all, I will say that Bitcoin is not the same as oil in the sense that, oil is consumed differently than Bitcoin and this is global which is not the same with Bitcoin hence the reason while you will see the price hike like you see because Russia is a major producer and exporter of oil.

Secondly, I don't think that this Russian Invasion of Ukraine is really affecting the price of Bitcoin as most are saying. Please take time to look at the price in a bigger time frame instead of hourly or minutes.

From the SS, since Russia Invaded Ukrain on the 24 Feb 2022, which is highlighted in Yellow square, Can you really see any warlike significant price difference from the past days/weeks before Feb 24 Invasion days to today? Square highlight in green.
Bitcoins price came up to 45K+ around Feb 10, 2022, and did the same on March 02, 2022, so again, is there any significant change as with the war effect?

Now, that is the effect of war on price
 

[CreeperWolverine 26]

I believe that now is a good time to advance. Russia is already far more powerful than Ukraine, and it is not far from reaching the peaceful manhole cover. The opportunity is gradually revealing itself, and the rising balance is shifting.

[WitchesElektra 70]

First and foremost, I will state that Bitcoin is not the same as oil in the sense that oil is consumed differently than Bitcoin and this is global, which is not the case with Bitcoin, which is why you will see the price increase that you see because Russia is a major producer and exporter of oil.

Second, I don't believe that the Russian invasion of Ukraine is having a significant impact on the price of Bitcoin, as many are claiming. Please consider the price over a longer period of time rather than hourly or minutely.

According to the SS, since Russia invaded Ukraine on February 24, 2022, which is highlighted in yellow, can you really see any warlike significant price difference from the days/weeks preceding the Feb 24 Invasion days to today? Green square highlight
Bitcoin's price rose to $45,000+ around February 10, 2022, and again on March 2, 2022, so is there any significant change, as with the war effect?

That is the price effect of war.

[CreeperI 53]

I believe that now is a good time to advance. Russia is already far more powerful than Ukraine, and it is not far from reaching the peaceful manhole cover. The opportunity is gradually revealing itself, and the rising balance is shifting.

[WorldThor 8]

While many people believe that there should always be a reason why the price of Bitcoin rises or falls, it would be beneficial to learn to take a step back and try to explain why the same things happen even when there is no war or significant negative or positive news. I recently started a topic in which one member asked why the price of BTC was rising during the war, and I gave him this answer.

If we look at how the price of BTC has been moving since the beginning of the year, we can see at least two sharp drops before this one. None of them have anything to do with the war because it didn't exist at the time, but it does have a lot to do with market manipulation because someone successfully regulates the price between $35k and $45 and makes a profit.

Until a few days ago, all the media reported that the crypto market in Ukraine and Russia had exploded, that everyone was buying Bitcoin, and that the price was rising as a result. I'm curious what has changed in just a few days - even though the answer is obvious: someone has fallen into the bull trap for the third time this year.

[DorkWitches 7]

As previously stated, Russia is a major player in the crude oil market; it is the world's second largest crude-oil exporter. If one of the largest players in a global market is on its way out due to sanctions, demand for this global commodity will naturally rise. Look at the prices of natural gas and wheat; they follow the same pattern as crude oil because of Russia and the sanctions.

[BiomeX-Men 40]

It has an effect on daily moves and volume, but not on the last three months as a whole. What is affecting it the most is the anti-inflationary policies of various countries (primarily the United States), which cause stock prices to fall. Stock traders balance their portfolios by selling the assets they consider most risky, which are cryptocurrencies, causing the market to become bearish.
Markets are also concerned about the invasion because the price of oil fell after Russians attacked a nuclear power plant. People are afraid of a nuclear disaster, and such an event would have a significant impact on all financial markets.

[GeekyBiome 18]

I wholeheartedly concur. But consider Shiba, Dogecoin, and GameStop for a moment. Look at what the NFTs did. You can move a mountain with enough sheep. Apparently, even if it's made of shite.

[dekrampus 70]

No, I don't believe so.
The situation with oil is far more complicated, as are natural gas prices, both of which are rapidly rising. It is primarily due to a supply shortage, while demand remains high and is slightly increasing.
There have been many wars in the 13 years that bitcoin has been around, some of which were much larger and involved many more countries than the Ukraine conflict. In fact, the war in Syria, for example, is sometimes referred to as a world war because it involved over 80 countries.

Edited March 15, 2022 by dekrampus

[Fequiet 47]

People don't have access to things like Visa and Master Card, and even Google Pay isn't working in Russia; the sanctions are coming down hard, and at the end of the day, this isn't looking good; as a result, people are now switching to bitcoins, which cannot be sanctioned as a whole!
Both Ukrainians and Russians are using bitcoins to solve economic problems, so I believe this will be a great place for people who are already familiar with bitcoins and cryptocurrencies. The banks in Ukraine are not disbursing enough cash, and the only reason I was able to flee was because I had some Bitcoins!!! It's fantastic!! Honestly! Leave oil and other safe assets alone; nothing is safe right now because we are at war.