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Bitcoin Declines to $40k Amid Russia-Ukraine Crisis -Breaking

by Mike Robinson

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© Reuters. Bitcoin Drops to $40k in Russia-Ukraine Crisis
  • Price is now down by $40k
  • CoinMarketCap shows all the cryptos are red.
  • This was due to ongoing Russia-Ukraine conflict.

It seems financial tension is after Bitcoin, as the crypto has experienced a drastic decline from its $43k mark to as low as $40k — this means that the crypto has lost 7.5% of its price value.

According to CoinMarketCap statistics, Bitcoin is struggling to sustain its momentum in order to prevent further falls. The crypto has also fallen by 6.92%, 5.44%, and 7.44%, according to CoinMarketCap statistics. Regardless of this time’s decline, Bitcoin still ranks as the world’s largest cryptocurrency ever.

What is more, despite BTC’s market downtrend position, traders have a strong hope that BTC will soon smash a new massive strength, as well as garner support to overcome any further price drops in the coming days. Additionally, Bitcoin’s market dominance is expected to increase in the near future to recover its $43k. It may even be possible to reach the Moon.

Bitcoin’s price is dropping, but altcoins as well and major cryptocurrencies like Bitcoin are seeing negative price action in their regions. BTC is correcting in contrast to this because of the continuing Russia-Ukraine crisis. Moreover, the decline has been tagged to President Vladimir Putin’s plan to invade Ukraine. Other concerns behind Bitcoin’s plummet connect to how the Federal Reserve wants to scrutinize BTC and tax Bitcoin.

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