Bitcoin, Other Cryptos Suffer Unimaginable Depreciation after Russia-Ukraine attacks

The price value of Bitcoin which is the world’s most popular cryptocurrency, suffers depreciation below the $35,000 benchmark on Thursday after Russia launched an attack on Ukraine.

Russian forces attacked Ukraine following the order of President Vladimir Putin, who announced he had authorised a “special military operation” in the country’s east.

In less than 24-hour, Bitcoin dipped by nearly 8 per cent to $ $35,288.31 at around 08:57 am Nigerian time on Thursday, data from what Coinmarketcap showed.

That was the lowest level in a month. Ether plunged more than 12% and was trading at $2,325.18.

Within the past 24-hour, Bitcoin touched an intraday low of $34,459.22 and oscillated to a high of $39,122.39 on Thursday.

By this, Bitcoin has slumped by 49.38 per cent after it touched an all-time high of $68,789.63 on November 3, 2021.

Other cryptocurrencies too have slumped in Prices including Ethereum , BNB and XRP also plummeted by 11.05, 9.83 and 10.39 per cents respectively.

Over $150 billion has been wiped off the entire cryptocurrency market in the last 24 hours, according to Coinmarketcap data.

The dip in cryptocurrency prices became significant as global equity markets tumbled following Russia’s military attack on Ukraine