February 24th, Since the early morning, the news was not anything good and the word ‘war’ could be seen all around the internet. Oil price spikes, Moscow Exchange, the largest trading platform in Russia has suspended trading on all of its markets for now, sanctions are on their way and the energy price goes higher and higher. So, what does it all mean for crypto market? Why the market is currently plunging?
** Threat of a bigger war and Commodities**
By the time of a conflict such as a war, the stock market usually crashes and investors show more interests to gamble on commodities, Gold, Oil and natural gas. The market is derived by its players feelings, so here we can see how fear can get the market to its knees all around the globe. Does this mean that the best time to invest in commodities is just before a coming conflict or war? Not certainly. There are many factors playing behind this game and not just the investor’s will is the driving force on this matter.
Buying Altcoins/Bitcoin Now?
As long as Gold and Oil prices are surging, the Crypto market plunges till a solution is found and people feel safe to put their money on the market again. This is definitely not a financial advice, but In this situation, investing on crypto currencies would be a smart choice. In fact I myself would have waited a couple of days for “ the dusts to settle “. It depends how much risks we are willing to take.
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War and uncertainty will hit all the markets hard. Idiot world powers.
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true. I could see it coming, but when the war really happens, that's when I can't believe it did. we are 8 billions evolved humans living on a tiny rock floating in the vast space and still stupid wars exist. a bitter reality for our specie.
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