03-02-2022, 09:52 AM
4 reasons why the crypto market is pumping
<!-- SC_OFF --><div class="md"><p>These are some explanations for the recent pump in the price of cryptocurrencies:</p> <ol> <li><p>People all over the world are buying crypto with fiat and donating them to support the Ukraine government war against Russia.</p></li> <li><p>Speculators are buying crypto in expectation that Russia will turn to crypto to to evade sanctions.</p></li> <li><p>Russia is actually buying crypto to evade sanctions. </p></li> <li><p>Russians and Ukrainians are buying crypto to protect their wealth and for flexibility or convenience of moving money around during this crisis, which crypto is most suitable for.</p></li> </ol> <p>Based on the above, if people are buying crypto and donating to war victim, Ukraine, then it's safe to assume that a dump will follow when Ukraine government and NGOs begin to cash out the money to finance aids.</p> <p>This is also true for Russia, however I believe Russia will have greater reserve in crypto, and thus have a relatively smaller selling pressure.</p> <p>So eventually we'll see this reflect in the market volatility. But we should be trending upward from here with the increasing crypto adoption resulting especially from the Russia vs Ukraine crisis.</p> <p>What do you think is responsible for the recent sudden increase in the price of Bitcoin and the crypto market generally?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/CryptoSorted"> /u/CryptoSorted </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/t4ayc9/4_reasons_why_the_crypto_market_is_pumping/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/t4ayc9/4_reasons_why_the_crypto_market_is_pumping/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>These are some explanations for the recent pump in the price of cryptocurrencies:</p> <ol> <li><p>People all over the world are buying crypto with fiat and donating them to support the Ukraine government war against Russia.</p></li> <li><p>Speculators are buying crypto in expectation that Russia will turn to crypto to to evade sanctions.</p></li> <li><p>Russia is actually buying crypto to evade sanctions. </p></li> <li><p>Russians and Ukrainians are buying crypto to protect their wealth and for flexibility or convenience of moving money around during this crisis, which crypto is most suitable for.</p></li> </ol> <p>Based on the above, if people are buying crypto and donating to war victim, Ukraine, then it's safe to assume that a dump will follow when Ukraine government and NGOs begin to cash out the money to finance aids.</p> <p>This is also true for Russia, however I believe Russia will have greater reserve in crypto, and thus have a relatively smaller selling pressure.</p> <p>So eventually we'll see this reflect in the market volatility. But we should be trending upward from here with the increasing crypto adoption resulting especially from the Russia vs Ukraine crisis.</p> <p>What do you think is responsible for the recent sudden increase in the price of Bitcoin and the crypto market generally?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/CryptoSorted"> /u/CryptoSorted </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/t4ayc9/4_reasons_why_the_crypto_market_is_pumping/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/t4ayc9/4_reasons_why_the_crypto_market_is_pumping/">[comments]</a></span>Kind Regards R