Bitcoin fell to a low of $36,370เว็บเกมสล็อตyesterday morning (Feb 22), its lowest level in more than two weeks. Analysts say it is a result of escalating tensions from the Russia-Ukraine crisis, despite the five-digit rebound in the last 24 hours.

On February 23, 2022, CNBC reported that the crypto coin price dropped on Tuesday as geopolitical tensions in Ukraine destabilized markets around the world.

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Bitcoin was down about 0.5% to $38,011.54 and hit a low of $36,370 in early trading. Other cryptocurrencies also declined. Ethereum was down 1.4%, while Cardano's ADA was down 4.3% and XRP was down 6.9%.

The decline was seen by analysts as a result of rising tensions over the Russia-Ukraine crisis. After Russian President Vladimir Putin ordered troops to enter an area controlled by separatist groups in eastern Ukraine. Shortly after declaring that they were an independent state,

The move raised fears that a full-blown invasion might occur. As a result, stocks around the world fell sharply due to the concerns of traders. to reduce the risk of loss

Yuya Hasegawa, a Japanese crypto market analyst, said: “Bitcoin safe trading is almost completely broken. Since it is possible for military conflicts to escalate. and deteriorating US-Russia relations. Puts the broad financial markets in risk-avoidance mode.”

Bitcoin is often touted by its advocates as a safe haven asset similar to gold. This means it should be valued during times of uncertainty.

However, in the case of bitcoin as “Digital gold” has collapsed as more institutional investors start trading. And cryptocurrencies are more closely aligned with volatility in traditional markets such as stocks.