Thursday, October 6, 2022
HomeCrypto NewsBitcoin and Altcoins dip amongst fears of Russia's aggression in Ukraine

Bitcoin and Altcoins dip amongst fears of Russia’s aggression in Ukraine

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.”

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