On February 24, BTC collapsed to $34,322, after which a smooth recovery began.
The reason for the collapse is Russia's military aggression against Ukraine. In fact, Russia has unleashed a new full-scale war in the center of Europe. The market could not but react to this by falling financial markets.
But then amazing things happened. BTC not only did not continue to fall, which is logical in this situation, but also returned to $40,000 very quickly. The probable reason for this is the purchase of cryptocurrencies, and primarily BTC, by investors from Russia and possibly Ukraine.
In the face of severe economic sanctions, BTC can be the saving asset that is able to save investors' funds. Let me remind you that the Russian stock market has collapsed like never before. And banks have introduced restrictions on the withdrawal of cash and in general there is a threat of SWIFT shutdown for Russia.
I perceive the current rebound as a temporary phenomenon. But I still expect it to continue to decline.
#BTC
