Bloomberg Strategist: This Is The Defining Moment To Buy Bitcoin

The escalation of tensions between Russia and Ukraine continues apace, and all global markets have plummeted today. During this crisis, the leading cryptocurrency Bitcoin (BTC), which was trading for $34,000 at the time, retreated then recovered. This, according to a well-known analyst, is the perfect time to invest in Bitcoin. Bitcoin Falls Following Tensions Bitcoin rose little after Wall Street began on February 24, with markets still focused on Russia’s invasion of Ukraine and its aftermath. BTC/USD was nearing $36,400 on Bitstamp two hours after the opening bell, up $2,000 from its recent lows, according to data from TradingView. Russia’s nighttime foray into Ukraine, which persisted and ricocheted across global commerce, rocked jittery markets. Related Article | Stifel says Three Macro Factors Could Drop Bitcoin Price To $10,000 Russia’s stock market, however, suffered a different amount of stress, with MOEX losing 50% of its value and briefly suspending trade. Bitcoin, which had been on the decline earlier in the day, has made a nice recovery. BTC/USD trades at a $36k amid crisis. Source: TradingView Sahil Sakhrani, a market analyst at crypto research firm Macro Hive, said: “At the start of the week, escalating tensions between Russia and Ukraine had hit crypto markets hard. Our crypto indices were already showing sizeable losses across all sectors.” Sakhrani cautioned that the imposit...