Ask Leo: Could This War Be Good For Bitcoin Since Russia Holds A Large Amount Of Bitcoin.
hive-167922·@onwugbenuvictor·
0.000 HBDAsk Leo: Could This War Be Good For Bitcoin Since Russia Holds A Large Amount Of Bitcoin.
My take on the Bitcoin market if the war doesn't end, The war between Ukraine and Russia is affecting Bitcoin at the moment. If the war continues, we will see a steady rise or a sharp bull run of Bitcoin.. the reason is this, with the recent sanction on the Russian economy by other countries, the economy of Russia is supposed to suffer. But, ask yourself this. Why is Russia willing to risk the sanction, Simple Russia has a large supply of Bitcoin.  [Source](https://www.ccn.com/russia-denies-buying-10-billion-in-bitcoin-telegraph-story-fake-news/) When Russia starts needing more weapons, they will buy on the black market with Bitcoin. making a massive surge. In case you don't know, a total of 2 billion dollars worth of Bitcoin have been donated by people all over the world to support Ukraine in the war. In the coming months, if the war continues and our countries join the war against Russia. Bitcoin will be used for transactions more than Fiat. Thereby making Bitcoin rise drastically against the dollar, I see it rising towards $71,000 - $90,000 if this war continues. Remember also that Russia is the largest energy supplier to a larger part of Europe reason why they have the highest miners in the world. Mining needs energy, a lot of it. Russia has a massive reserve of Bitcoin, I think that is what they will run their economy on during the war, because I see More sanctions coming, like their currency being blacklisted on exchange. Now what happens if the war ends,..? There will be a sharp bear run on Bitcoin until it gets to equilibrium and the market balances and we go back to the normal Bitcoin market that is easily predictable, in my opinion although Bitcoin on the weekly timeframe is in a huge trend channel. **Please follow me on: Discord: onwugbenuvictor#3447 Twitter: @VictorOnwugbenu** ***THANKS GUYS FOR READING MY POST.*** Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@onwugbenuvictor/ask-leo-could-this-war-be-good-for-bitcoin-since-russia-holds-a-large-amount-of-bitcoin)
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