The fate of Cryptocurrency in the Wartime Russia - Ukraine.

The fate of Cryptocurrency in the Wartime Russia - Ukraine.
Currently Bitcoin and other Crypto is experiencing its first experience, namely wartime. Bitcoin as we know it has survived various crises. Starting from the subprime mortgage, the trade war, the Covid 19 virus pandemic, to the last one there was a war between Russia and Ukraine.
I am not siding with any party. I am not siding with America, NATO, Ukraine or Russia. I only have one side, namely humanity and stop war.
As we know that Russian President Vladimir Putin or Russia do not like it if Ukraine joins NATO, because if Ukraine joins NATO it means that America and NATO countries can install missiles in Ukraine.

This of course endangers Russia's national stability, not to mention that Ukraine also inherited the Soviet Union's war technology in the form of uranium enrichment. Ukraine is also included as a country that has the largest nuclear weapons in the world, the key of which is now declared lost to anyone.

According to Russian President Vladimir Putin, America and the NATO countries were the first to enlarge their territories, by including the former Soviet Union countries into NATO. For example, there are Poland, Hungary, and the Czech Republic, followed by Bulgaria, Estonia, Latvia, Lithuania, Romania, Slovakia, and Slovenia.

In Poland, America has missile defense, in Romania, America also has military bases, although America says its missiles are for defense. But American President Vladimir Putin has accused America of boasting, because its missiles have the potential to reach Moscow.

Seeing this, Russia did not remain silent, because according to Russian President Vladimir Putin, NATO and America used to widen their territory and forced Russia to fight. That's according to Putin, yes. One of them is the annexation crimea.
If Ukraine sided with NATO, it even entered the European Union. Russia could be in danger of losing its military base in Crimea and this would weaken Russia's defenses.

The Russian military base in Crimea has existed since the days of the Soviet Union and was then continued with the lease system in Ukraine when the Soviet Union fell.
So the war in Russia and Ukraine is a complex that cannot be seen from the outside, especially since the founding father of Ukraine is Lenin, even today there are 1,300 statues of Lenin in Ukraine.

The war between Russia and Ukraine will certainly have a severe impact on the economy, this is because the majority of countries in the world have started to impose economic sanctions, the economic world has now become like a war soon.

The war will have an impact on the ruble, the ruble is the Russian currency which has fallen by 30% since Russia started attacking Ukraine. Russia's stock market crash 30%, this is the fifth worst crisis in history, compared to the crisis in Argentina in the 90's where the stock market fell 53 percent.
The stock market in Russia is still temporarily closed until an undetermined deadline, the Russian Central Bank has also disbursed funds to buy back shares of Russian companies.

Russian aircraft are prohibited from flying, yes currently Russian airlines are prohibited from flying to or from European and American countries. Russia retaliated by barring 36 countries from flying over its air, so all planes had to turn around, this is like a return to the cold war period where flights were longer and more expensive because they used more fuel.

Then there is the energy crisis, the energy crisis could be more severe. Before the war, there was an energy crisis and a supply chain crisis which made prices more expensive and importers ran out of stock. With the war, of course, oil prices will be more expensive, this has been proven after Russia entered Ukraine, oil prices have increased and it looks like the energy crisis will continue, even worse.
Now that the planes have to turn around to avoid Russian and Ukrainian territories and gas supplies to Europe, which Russian President Vladimir Putin might also stop, there is a nord-stram pipeline that has also failed to be inaugurated.

Russia is prohibited from doing business with other countries, this causes many companies to leave Russia. Google, Meta, FIFA, and many other companies such as BP, Shell, equinor and daimler also cut off cooperation with Russia. The losses are certainly on both sides, both from the Russian side and the foreign company side.

What follows is quite extreme, there is an asset freeze of several Russians close to Russian President Vladimir Putin. Italy began by seizing property worth 30 million euros owned by close to Russian President Vladimir Putin, Arkady Rotenberg.

He was closely linked to Russian President Vladimir Putin, some of his assets were also confiscated, including an apartment in Sardinia, a hotel in Rome and a villa in Tarquinia. This is planned to be followed by France and Monaco and of course get retaliation in the form of confiscation of assets of foreigners and foreign companies by Russian President Vladimir Putin.

Russian Financial Institutions are prohibited from transacting using Swift. Swift is an international payment transaction system, Swift connects financial institutions around the world. By being banned from transacting with Swift, financial institutions in Russia have been ostracized. But even so, Russians can still make transactions using crypto assets. Russia can also use CIPS, which is a Cross-border interbank payment system. This is Chinese Swift.

Ukraine and the US government asked Bybit and other crypto exchanges to block Russian users, the US government also warned Crypto exchanges not to facilitate people from blacklisted countries.

But so far the request has been rejected by Krakon and Coinbase. He said the total ban would actually make it difficult for ordinary Russians and misdirected, but coinbase will ban individuals or entities that are specifically sanctioned.

The Russian Central Bank increased its interest rate to 20% to boost the economy and this was the highest interest rate for two decades. Currently, Russian people are queuing up to collect their cash savings and they are worried about a bank run and inflation.

In the midst of this war, of course, we ask how the fate of the Cryptocurrency world will be, of course in the beginning the market reacted by selling off when Russia attacked on the first day. But over time, the market has gradually started to pump again.

In my opinion, the most appropriate strategy at this time is dollar cost averaging. So we don't miss the moment if the price suddenly comes back again, nor does it get stuck in the term if the price suddenly crashes. We still have reserves to buy in the deep.

At this time the price of Bitcoin is up by more than 15 percent, Russians whose economies are isolated may turn to Crypto for investment or communicate with people outside Russia. Or maybe Russian financial institutions can also turn Bitcoin and other Crypto into a Save Haven for them and the stock market in Russia which has been closed for days has made people realize that there is something that makes Crypto different from other financial markets.

In crypto, because the market is open 24 hours, we can Pivot when there is a significant event, we can change strategies without waiting for the market to open. In the general financial market, the NYSE, for example, is only open for a maximum of six and a half hours per day and is still closed on weekends and Sundays.

Crypto can be a back door for sanctions imposed by Russia because of its decentralized nature, crypto especially DeFi can be a way out for Russian people who are affected by sanctions. It could also be a way out for Ukrainians who want to flee to other countries, even Ukraine has received donations in the form of Bitcoin, Ethereum, and USDT.

Is crypto currently entering the crypto winter? The answer is Yes, this crypto winter is a 4-year event that coincides with halving, especially when there is a world war and a tappering by the FED. But according to Bank of America, crypto is still not into the crypto Winter era.

If you look at the growth of users and developer activity, there are also those who say that crypto will be sideways at least until 2024. If the market is sideway, we can also trade derivatives or futures at bybit.

What I see now is that Ukraine has become a victim of America's proxy war and a NATO country, they have high hopes for Ukraine to become a NATO country or at least a NATO partner. But they don't want a direct war with Russia, they are only sent reinforcements in the form of weapons, but about war, please fight yourself and they will observe.

They looked at the Russian weapons, they looked at the extent of this Russian power. That's why I say this war is complex, you can't just look at it from the outside and don't forget that behind Russia there is also North Korea and maybe India and China if you have to.

America and NATO countries are also observing how Russia's allies will respond if it turns out to be a war, if a real war occurs, nuclear war can no longer be avoided. The point is that there is no war that does not end, war must end. But we hope that Ukraine and Russia can make a truce, find a middle ground, and the world will return to peace with no more casualties.

Because even though the war is in other parts of the world, its impact can be felt all over the world. Starting from the already hot politics, the economy slumped, inflation, and rising prices of goods due to scarce supplies and higher energy costs.

So, peace for the world.

Source images :
ekbis.sindonews.com
cnnindonesia.com
liputan6.com
joinan.co.id

This post has also been published on my official read.cash account with the account name @echoputra.

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