Cryptocurrencies and shares declined on Friday as investors reacted to geopolitical danger.
Bitcoin (BTC) fell 2% during the last 24 hours, and shortly dipped below $40,000 for the first time in weeks. Following Bitcoin, most altcoins including Ethereum (ETH) and Solana (SOL) declined 4% in the last 24 hours.
The United States continues to warn Russia may invade Ukraine within the coming days ahead. They maintain that the likelyness of avoiding a conflict are very slim. Russia denies any plans to invade Ukraine and defined international worries as “hysteria.”
David Duong, who is head of research at Coinbase institute said in a Friday newsletter “Open conflict could potentially affect bitcoin hashrates, which could exacerbate the knee-jerk market reaction weaker for high-beta risk assets like crypto.”