During the trading session on Friday, the value of the first cryptocurrency was reduced by 5% to $ 41,200. At the time of writing, on the Binance exchange, the largest in terms of trading in digital assets, the price of BTC sank by 4.8% to $ 41,200. According to the CoinMarketCap portal, which calculates the average cost for more than 20 exchanges, digital gold lost 4.9% in a day, falling to $ 41,300.
Recall that in January 2022, the value of the main virtual asset decreased by 17%. In February, it increased by 12%. Since the first days of March, Bitcoin has been showing a decline of almost 5%.
According to the results of the past year, the cost of military-technical equipment soared 1.6 times - to $ 46,200 from $ 28,900. In November 2021, the first cryptocurrency reached a historic high of $ 69,000 but soon began to decline sharply.
In the outgoing week, digital gold began to demonstrate a confident turn to negative dynamics on Wednesday on the approach to the key mark of $ 45,000. In the past month, the main virtual asset could not cross this important level and began to roll back down.
Despite the decline in the global cryptocurrency market in recent days, over the past week, Bitcoin trading volumes have significantly increased against the background of the military conflict between Ukraine and Russia.
Thus, institutional investors and crypto-whales were actively buying digital gold and looking for alternative instruments in the face of increasing geopolitical tensions in eastern Europe. According to CoinShares, over the past week, cryptocurrency funds recorded net inflows of private investment by $ 36 million, and since the end of January - by $ 239 million.
On the last day of February, the value of the military-technical complex increased by more than 15% against the background of the announcement by the US Treasury Department of the imposition of sanctions against the Central Bank of the Russian Federation and the freezing of some assets of the country. Many European states have made similar decisions regarding Russia.
Frightened by the harsh sanctions, the Russians began to withdraw ruble assets that were losing value and invest them in digital currencies. Thus, compared to the turbulence in the world's leading markets, the crypto market has not yet experienced serious losses and is becoming an attractive investment for individuals, businesses, and government agencies around the world.
At the same time, the crypto expert emphasizes that the main secret of bitcoin's stability in the current crisis is its decentralization and protection from unauthorized access to the network. Institutional investors are increasingly acquiring cryptocurrencies, their trust in the BTC is permanently increasing, while the volatility of bitcoin, on the contrary, is constantly decreasing.
