Russia had been vocal for quite a few years now against the animosity that it carries for Ukraine. It all was quite conspicuous in their attack on Ukraine that took the world off guard. Now, the situation has escalated way faster than anyone could have anticipated, and this can be attributed to the fact that Russia is in no mood to give up the guns anytime soon.
What will be the future of Ukraine in these challenging times? Will the country completely perish at the hands of a relentless & formidable enemy, or will it continue to face off the attacks? Russia is believed to grow even more intense & merciless as the days pass by, and the recent attacks on Ukrainian hospitals are a clear indicator of their nefarious intentions. Well, BTC Mining will explore the recent developments in the wake of brutal war and will address the involvement of Bitcoin profoundly.
Bitcoin is hit hard and Ukraine even harder.
Recently, the prices of Bitcoin faced a downfall once again when the Russian President ordered the attack on Ukraine. The prices fell nearly by 9% right after the “Special Military Operation” was ordered and executed by Russia. The escalating tensions on the borders of Russia & Ukraine had already given out multiple signs of an imminent war. The final prices of bitcoin fell, and it was nearly its one-month low prices which had been estimated to be under $35,000.
In addition to this, some of the other predominant cryptocurrencies like Solana, Cardano, Ether had also witnessed a significant slump in prices right after the raid was carried out by Russia. Now, Bitcoin was being traded at $34,785, which was nearly at an 8.6% down rate. Moreover, the other leading cryptocurrencies in the likes of Ether were also being traded at $2,339, which was nearly down around 12%.
Attack in the silence of the night that shook the world
The explosions in the cryptocurrency world were not as tumultuous as the explosions in Ukraine were. However, the bitcoin greatly suffered amid the war that they no one wanted. The capital city of Ukraine, Kyiv, was being bombed by Russia and the attacks destroyed nearly everything that was of value to Ukraine. Now, the thing to be noted here is the hypocrisy of Russia as it had already declared that the tensions have undeniably escalated, but there will be no attack from their side.
This is what took everyone off guard when Moscow did the exact opposite of what it said it wouldn’t do. The past few weeks have been concerning for Russia & Ukraine, but there was certainly no sign of war. However, Russia is more than what meets the eye, and they displayed it once again that their words cannot be taken for granted.
Detrimental blow that doesn’t seem to cease anytime soon
Putin had already given green flags to the attacks on unsuspecting Ukrainian cities like Donbas. The city was bombed late at night, and this marked the beginning of an internecine war. He even ordered the Ukrainian army personnel to lay down their weapons and go back home. Putin had given a chance to army personnel to leave and retreat before subsequent attacks were carried out. The rise of attacks marked the fall of the financial ecosystem in the country, and major Ukrainian facilities had already been destroyed, which crippled Ukraine’s ability to even fight back.
Conclusion
War always brings miseries and hard times that no one wants. The loss of countless lives is the end result of any war that even broke out between the countries. The fall of the economy and financial apparatus of Ukraine is a clear sign that things that the situation is not going to get any better anytime soon. Bitcoin suffered a major blow, and the fall in prices displays the gravity of events. The entire apparatus of Ukrainian has already been dismantled, which is a grave sign as millions of residents are still struggling to sustain lives in the conflict zones. Bitcoin is no longer a safe haven, and relying on it blindly will only bring misery.