Wars are always a red flag for anything be it humanity or the crypto market. Since Russia & Ukraine announced war the market fell as people got panic and sold their assets out of FUD.
Before the announcement of the war, bitcoin was trading around $44000 to $46000 and the market was looking good, then Russia announced war, and all the markets starting from crypto to stock, fell down.
The market remained in red for a short period of time & recovered very quickly and the main reasons for this were SWIFT ban on Russia. Crypto exchanges in both countries saw a very high trading volume as everybody was looking for a storehouse of value i.e BITCOIN.
War is not good for anybody but this war helped people to understand the value of Bitcoin & other altcoins, as when all the banks were shut down, crypto still works. Those who opposed crypto for a long time by saying that crypto is shady and is only used by criminals of the dark web & other social disturbing elements, the donations that Ukraine received in the time of need, is a tight slap on their face.
Crypto Donations to Ukraine
According to the news, Ukraine received around $50 million in donations, in the form of Bitcoin, Ethereum & USDT [ Stable coin ]. This is great news for all crypto believers as it was only possible because the crypto community supports the good & always stands for good.
Ukraine’s Vice Prime minister tweeted the wallet addresses of BITCOIN, ETHER & USDT and asked people for donations. Ukraine is getting support in the form of crypto donations from every part of the world & this is surely a green signal for the future, let’s just hope for the good & pray that this war ends soon.
Market recovery prediction
According to some analysts, we shall see crypto market recovery only by the end of 2024, and that too with the condition, if things move towards a positive side.
Bitcoin is down around 19% YTD & Ethereum is down around 32% YTD and there is no ray of hope for market recovery in the coming time. People are looking for ways to safely invest their money but due to war markets are falling, Dollar inflation is also one of the major contributing causes to this fall.
Due to these above-mentioned reasons, the market will remain highly volatile and stability will only come when things will become normal again.
Stock Market Vs. Crypto Market
The highly matured and stable stock market also plunged as war is not a good sign for anyone. The same FUD is also eating the stock market, while some see this as an opportunity the others are selling out of fear. Both crypto market & stock markets are crashing, but it is assumed that crypto markets will recover faster than the stock market this time, and the major reason will be the good global exposure in time of need.
While crypto is still not that mature to be used as currencies for every day but it is still a powerhouse of value and if the price of BITCOIN surges, the market will be in green again.
Alternative to markets, real estate could be a good choice for making investments in this time but always remember to do your own research.
