Analyzer Cryptocurrency Jack Newold said that “war could be good” for oil prices. Bitcoin (BTC). He described the Russian invasion of Ukraine as a buying opportunity for long-term crypto investors.
Niewold, 24, is also the founder of Crypto Pragmatist, Which aims to provide search for Altcoins Institutional grade for retail investors, refers to “market funds” To help support your argument.
“I haven’t tried to pinpoint the bottom of the pullback yet, but I am a buyer here,” he said, after bitcoin prices plunged more than 9% to $34,700 following Russia’s February 24 attack on the country. Ukraine. in what energy Nuclear power is called a “special military operation”.
buy invasion?
“Historically, shots have pointed to the bottom of the market,” Newold argued.
I got Graphics From previous war periods, including the Vietnam War (1964)The Gulf War (1991), and the Afghanistan War (2001), alluding to Bitcoin’s alleged relationship with US stock markets, specifically the Nasdaq.
He stated that history “shows that market funds coincided with the war. So if the Nasdaq and Bitcoin are correlated, maybe we can use historical stock market data to understand where the markets are headed.” chirp Newborn.
“This information [el gráfico a continuación] It is assumed that Ukraine will be the only country to be invaded… But buying the invasion appears to be a strong investment strategy.”
“War is good for cryptocurrency prices”
Niewold did not respond to a request for comment from Be[In]encrypt.
However, he argues in his thread that “the war between Russia and Ukraine could be good for cryptocurrency prices.”
Neuwald said the war could lead to central banks printing more moneywhich causes economic inflationWhile economic sanctions, such as those imposed by the United States and the European Union on Russia thus far, may also push nation states to adopt cryptocurrencies.
during periods of war, Displaced people are more likely to turn to Bitcoin as a ‘store of value’ and a financial dam when the banking infrastructure is not reliable.” All of these factors Niewold says they will unite to boost crypto-asset prices, adding:
“I think there is an interesting geopolitical game theory about cryptocurrency adoption: If Russia starts adopting bitcoin to get around sanctions, I see other big nation-states compelled to embrace it as well.”
Niewold talked about how he is too It was bullish on DeFi:
“…if American hegemony is to be questioned, Procedures International Unconfirmed, and precious metals Still stagnant, what are you investing in? Jokingly, at the same time he answered himself:
“…Decentralized protocols, not affiliated with any country, that can comply with financial services regardless of nationality. One of the amazing differences I see in this course is that no one is leaving cryptocurrency permanently, we are just waiting for some kind of confirmation/certainty to return to it.”
At the age of 24, a cryptanalyst claims that he is not a war monger and believes in it A third world war won’t “look good for financial markets… But it is good to speculate on these events and consider how they will affect the financial markets.”
shaky markets
Crypto Markets Decline on February 24 After Russia began its military invasion of Ukraine, Bitcoin down 8.6% to $34745 and raised (ETH) is down more than 10% to $2,342, according to data from CoinGecko.
In total, cryptocurrencies lost more than $200 billion in value on the day. At the time of writing this article, prices were BTC recovers above $39,000 and ETH to $2,700Where the economic sanctions against Russia exceeded expectations in terms of severity.
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