Bitcoin’s [BTC] recovery in question as Russia-Ukraine conflict anniversary nears

Establishing how the Russia-Ukraine war has impacted Bitcoin. Bitcoin bulls give way to the bears after critical support range. Bitcoin [BTC] bulls have been called into question despite the rally they have delivered so far this year. There are multiple reasons why many analysts expect prices to remain suppressed, and one of them is the […]

Bitcoin bulls give way to the bears after critical support range.

bulls have been called into question despite the rally they have delivered so far this year. There are multiple reasons why many analysts expect prices to remain suppressed, and one of them is the ongoing conflict between Russia and Ukraine.Bitcoin was initially on a healthy uptick before the war started having a negative impact, especially in the form of inflation. This was because of unstable conditions caused by such conflicts discourage investment.

On the other hand, Bitcoin turned out to be more useful to those affected, whether in Ukraine or Russia, as it became one of the most accessible forms of money. However, the risk of another major retracement will remain.The conflict in Ukraine does not have a direct correlation with Bitcoin. It is just one of the indirect factors that has contributed to inflation and disruption in the global economy.

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