HomeBitcoinBitcoin drops below $35000 after attacks between Russia and Ukraine

Bitcoin drops below $35000 after attacks between Russia and Ukraine

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The asset, which has been in sharp decline since last autumn, plunged overnight on Wednesday in the wake of the Russian attack in Ukraine.

Bitcoin fell below $35,000 on Wednesday night after Russian troops invaded Ukraine. Relatively stable in recent days at around $37,000, the asset fell sharply to a low of $34,472.

The asset rallied slightly in early morning trading back above $35,000 but was still showing signs of weakness as European stock markets slumped in early trading.

This fall comes in a downward trend that the crypto asset has been experiencing since last November. After flirting with $68,000, Bitcoin fell sharply to $35,030 on 22 January. The asset then began a recovery, which was eventually thwarted by the Russian invasion. Bitcoin had not fallen below $35,000 since July 2017.

In the wake of Bitcoin, the larger cryptocurrencies also fell: Ethereum traded at $2,300, while Binance Coin fell from $368 to $335.

 

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