- Bitcoin jumped 13% on Tuesday continuing its sharp rebound as the Russian war with Ukraine continues and the U.S. ratchets up sanctions.
- Bitcoin proponents have seen bitcoin as a safe haven asset or “digital gold,” but that definition has unraveled recently. One expert said that is changing and bitcoin is having a “watershed” moment.
- Debate has also been raging over whether bitcoin could be used by Russia to evade sanctions.
Bitcoin jumped 13% on Tuesday continuing its sharp rebound as the Russian assault on Ukraine continues and the U.S. ratchets up sanctions.
The cryptocurrency was up more than 13% at $43,650.80 as of 7:04 a.m. ET after hitting a high in the past 24 hours of $44,165.90, according to CoinDesk data. That rally comes after cryptocurrency prices plunged last week as risk assets such as stocks sold off following Russia’s invasion of Ukraine.
Ether was up more than 10% at $2,907.88
Market analysts said there could be a number of reasons behind the big surge in bitcoin including investors buying the dip, attempts to evade sanctions and Ukrainians and Russians trying to get their money out of their respective countries.
No comments:
Post a Comment