Bitcoin Remains Steady amid Ukraine Conflict
According to Bloomberg News, cryptocurrency prices are steady even as there are no signs of easing in Ukraine, following new sanctions being imposed on Russia by Western countries. President Vladimir Putin refuses to end the attack on the neighbor.
Steady Price of Bitcoin Bitcoin was found to be trading around $38,900 in Hong Kong at 4 PM approximately when it started on the weekend. On Saturday, for a brief period, it edged over $40,000, and Ether was down by 3.4%, recording at $2,732. The calm nature of the crypto market was following a global equities rally that took place on Friday, which witnessed a hump of 2.2% in the S&P 500 index. The correlation of Bitcoin with that of the stocks is at a record high, and the trading indicates that there will be a steady opening on Monday for the Asian equities, excluding a sharp rise of tensions between the Western countries and Russia. Bloomberg News reports that the western countries unleashed a wide range of sanctions against Russia, and as per a US official, it is likely that more are slated to come this weekend against