Bitcoin Price Prediction as Ukraine Conflict Escalation Fears Send Prices Lower – Time to Buy the Dip?
A few hours ago, Bitcoin attempted to break the $17,000 barrier but was stopped by the release of UK inflation figures. Most alternative cryptocurrencies are also slightly down today. SBF, the former CEO of FTX, has been venting on Twitter about how he plans to make customers whole and how he plans to revive his cryptocurrency businesses.
Bitcoin is currently trading at $16,740 after starting the day at $16,886. It has hit a high of $17,002 and a low of $16,761.
The recent Russia-Ukraine conflict has caused a drop in the cryptocurrency market. Let us take a look.
The main worry about the war in Ukraine is that it may escalate into a larger confrontation between Moscow and the US-led NATO alliance. The fatal missile strike on a Polish village on the Ukrainian border has clarified that fear.
At 3:40 p.m. on Tuesday, a missile hit Przewodów, a town in southeastern Poland not far from Ukraine's border, killing two reportedly farm laborers, according to the local media.
Since Russian President Vladimir Putin authorized a full-scale invasion of Ukraine on February 24, this region of Poland has been living with the war. Millions of refugees have used its routes to leave the fighting, and western military equipment worth billions of dollars has been shipped to Ukraine to help its people fight back.
The bombing on Tuesday carried the battle for the first time into Polish territory, highlighting how close Europe is to a confrontation between the world's two strongest nuclear powers.
Accusations were leveled at each other in the first, tumultuous aftermath of the occurrence. Explosions were reportedly triggered by Russian missiles that had crossed into Poland, according to the Associated Press, which cited an anonymous senior US
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