Economist Alex Krüger shared his comments on how the developments between Russia and Ukraine will affect the market value and the price of the largest cryptocurrency Bitcoin (BTC). According to the analyst, cryptocurrencies could be adversely affected if Russia tries to avoid sanctions and turns to cryptocurrencies. As Kriptokoin.com, we are giving the details…
Alex Krüger, If Russia turns to Bitcoin and altcoins…
Alex Krüger, to his 123,700 followers on Twitter, that it would be negative for Russia to turn to cryptocurrencies to avoid sanctions. told. He said that the use of crypto in the country will receive a serious response from regulators in the US. He stated that it would be a terrible fall for Russia to use cryptocurrencies to circumvent sanctions. “While we don’t expect that to happen, we should be careful what we wish for. “US regulators may have to crush the industry as a matter of national security.”
The USA, together with its allies and partners, imposed various sanctions on Russia after it invaded its neighbor Ukraine. The sanctions also include the separation of Russia’s leading financial institutions from the US financial system. According to Alex Krüger, prices of crypto and other assets such as equities and commodities have bottomed out after the fall caused by the war between Russia and Ukraine. But safe-haven assets like gold and silver have seen their local peaks. The analyst also said that lows are seen for stocks and cryptocurrencies, while peaks are seen for precious metals. He said the market showed it.
Worst case scenario
According to economist Alex Krüger, to make things worse, China invades Taiwan, Russia invades more countries, nuclear weapons are used. situations must arise. He says that outside of these scenarios, the market has already priced in the worst-case scenario and is fending off it. He states that these price changes can occur in every armed conflict. “This may have been different as it has been bigger than any conflict for decades, but the market doesn’t say so,” he says. At the time of writing, Bitcoin is trading at $38,824 and has fallen by 1.1 percent in the last 24 hours.
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