I think It's just have a little effect of economic embargo.
It's bearish season, And we know there is inflation in US.
I think we will see long bearish until the next year.
Believe it.
Although economic sanctions against Russia have been in place for several months since its military invasion of Ukraine, and continue to intensify, we see no signs that Russia is going to use bitcoin or other cryptocurrency in this case for settlements with other states. Moreover, the Central Bank of Russia, almost immediately after the appearance of such rumors, declared that this was impossible and Russia would not do it. True, public statements in Russia quite often diverge from practical actions. However, if they are going to use cryptocurrency to circumvent sanctions, then they will do it without too much publicity. But anyway, after a while this will become known. After all, the movement of large volumes of sanctioned goods cannot be hidden from the international community.True that. I believed most of us back then thought if sanctions were placed on Russia it might boost the adoption of Bitcoin in that region and push its price upward however this has not been the case. I believe regardless of what is going on, Bitcoin most times just have to run its natural circles with little effects affecting it from other sectors of the economy and I believe we will see a new Bitcoin top "ATH" after the full bear circle is finished.
Hopefully this will be a positive step for crypto in the future. Indeed, Bitcoin can be an alternative for a country when it is blocked. With the use of Bitcoin in this transaction, it can trigger price movements and increasingly be given a trust by all people.International sanctions and economic embargo against Russia cannot raise the price of bitcoin. The sanctions hit Russian imports. Its sharp limitation has led to the fact that there are dollars and other currencies in Russia, but it can no longer be spent in the same volumes. Moreover, sanctions always have a mutual effect. Losses are borne by both parties. But since many states apply sanctions against one, it is understood that the losses are shared by all countries applying sanctions, while the sanctions hit only Russia, which will not be able to effectively counter the economies of many states at once. However, all states will suffer material damage, which means that the financial situation of their people will fall. This, in turn, will also have a negative impact on the cryptocurrency market.
There is always pro and cons about Bitcoin related to the country's condition.In order for transactions to be made in bitcoins, the other party must also agree to accept bitcoin, and this is not always possible. In addition, agreeing to pay with bitcoins is only half the battle. Bitcoin in this case will pay for the movement of a certain sub-sanctioned product, and this product in large volumes cannot be hidden from the international community. We already see this in the example of Russian tankers carrying oil or stolen grain in Ukraine moving at sea. Therefore, bitcoin is unlikely to solve the problem of avoiding sanctions here.
But in this case, Bitcoin utility is sometimes really connected to certain restrictions in a country.
If that happens like what OP said, it makes sense that Bitcoin can be one of the solutions, doesn't it?
Bitcoin offers easier payment, without regulation by certain governments.
Russia was a great and big country when they were called the Uni Soviet, I think the CBDC option would be better because Russia has partners like China, no country can embargo, when the country they embargo has partners and large natural resources. I hope altcoins and Bitcoins are used for good purposes
It’s true that the Western sanctions have impacted Russia’s economy in the first place. But right now, Russia is countering it by cutting off energy and gas supplies to Europe. Because of the gas wars, Europe is now divided as they may try to avoid recession.Russia is bluffing and hiding the consequences of international sanctions. The sanctions have already affected the domestic economy. The main sanctions against the Russian energy sector have not yet entered into force. December 5 will earn sanctions on the export of Russian offshore oil to the European Union. February 5, 2023 - Russian oil products.
Germany is the mostly affected country because they are relying too much on the Nord Stream 1 of Russia where they have supplied 1/3 of it.
As regards to Bitcoin’s price performance due to the ongoing escalation between Ukraine and Russia, it was just temporary and it held on to somewhere $40k until Terra Luna’s crash started the real dump.
It’s true that the Western sanctions have impacted Russia’s economy in the first place. But right now, Russia is countering it by cutting off energy and gas supplies to Europe. Because of the gas wars, Europe is now divided as they may try to avoid recession.The situation in the gas industry has a catastrophic effect on Russia itself. Russia itself has reduced or stopped gas supplies to 12 European countries. By doing this, she drove herself into a corner. "Gazprom" from January to August, according to official data, reduced gas production by 13.2%. Last month this figure was at the level of 10%. Due to the refusal to supply gas, it is necessary to reduce its production. Russia will soon have to mothball its wells. This will cause significant damage to the entire industry. The volume of production is reduced, exports are falling, revenues to the budget are declining, the number of jobs is being reduced.
Germany is the mostly affected country because they are relying too much on the Nord Stream 1 of Russia where they have supplied 1/3 of it.
As regards to Bitcoin’s price performance due to the ongoing escalation between Ukraine and Russia, it was just temporary and it held on to somewhere $40k until Terra Luna’s crash started the real dump.
The economic sanctions that have been imposed on Russia for its military attack on Ukraine are slowly taking their toll on the Russian economy. The Kremlin has already seen and understood this, and since the Russians are losing the war in Ukraine, they have already thought about how best to get out of this war, about which Putin held a meeting on August 18. To return to Ukraine their territories, which were occupied by Russia after the large-scale invasion on February 24, this already seems to them the easiest way out. Only Ukraine agrees to sit down at the negotiating table only if the occupiers leave all the occupied territories, including the Donbass and the Crimean peninsula.Russia was a great and big country when they were called the Uni Soviet, I think the CBDC option would be better because Russia has partners like China, no country can embargo, when the country they embargo has partners and large natural resources. I hope altcoins and Bitcoins are used for good purposes
I agree with you, Russian is the big country and has good relationship with China.I think This embargo won't havebig effect for Russian.
That's my opinion.
(https://gettotext.com/wp-content/uploads/2022/01/Iran-wants-to-accept-international-payments-in-Bitcoin-and-cryptocurrencies-980x400.jpg)
With the news of the impending invasion by Russia into Ukraine, the USA administration of sleepy Joe Biden has been spewing warning of big economic embargo that can befall the economy of Russia, never mind that USA is now considered as a weak giant that can have a hard time to create a coalition of similar-minded influential countries to with it.
Economic embargo can be so difficult for any country because it can essentially mean that dealing with international commerce can be thorny and that is why when a country is under one just like Iran or North Korea you must be creative enough to find resources and sympathetic other countries to come to your aide.
Now, if a country is under embargo, one has the option of using Bitcoin to settle obligations and payments. And I think Iran is thinking on this right now if they are not already using this option. This is one reason why Iran is relaxing its stance on Bitcoin and maybe allowing it on the country on a limited basis. Now, this can also be a big factor why Russia can be thinking of the same.
indeed there is an intention that it will be used by Russia but it will no longer be able to be done, because President Putin has signed a regulation prohibiting the use of crypto and it includes bitcoin, it can be used in Russia. so that there will not be any transactions that can be made in Russia with crypto.(https://gettotext.com/wp-content/uploads/2022/01/Iran-wants-to-accept-international-payments-in-Bitcoin-and-cryptocurrencies-980x400.jpg)
With the news of the impending invasion by Russia into Ukraine, the USA administration of sleepy Joe Biden has been spewing warning of big economic embargo that can befall the economy of Russia, never mind that USA is now considered as a weak giant that can have a hard time to create a coalition of similar-minded influential countries to with it.
Economic embargo can be so difficult for any country because it can essentially mean that dealing with international commerce can be thorny and that is why when a country is under one just like Iran or North Korea you must be creative enough to find resources and sympathetic other countries to come to your aide.
Now, if a country is under embargo, one has the option of using Bitcoin to settle obligations and payments. And I think Iran is thinking on this right now if they are not already using this option. This is one reason why Iran is relaxing its stance on Bitcoin and maybe allowing it on the country on a limited basis. Now, this can also be a big factor why Russia can be thinking of the same.
I think demand and supply are the basic factor of the bitcoin performance.
I don't think about embargo.
As we know, Current market is bearish because bitcoin halving will happen at 2024.
I don't think economic embargo and restrictions could push bitcoin to the top .indirectly I strongly believe that there is no correlation between the embargo or economic restrictions will have a direct impact on the increase in bitcoin, because it seems that the two sides will not be the same alias different.
Because bitcoin has the basic factor that make bitcoin to the top.
Demand and supply.
also waiting the bitcoin halving.
I don't think economic embargo and restrictions could push bitcoin to the top .indirectly I strongly believe that there is no correlation between the embargo or economic restrictions will have a direct impact on the increase in bitcoin, because it seems that the two sides will not be the same alias different.
Because bitcoin has the basic factor that make bitcoin to the top.
Demand and supply.
also waiting the bitcoin halving.
but I strongly believe that the halving period is clear that will make improvements will occur, because it is an experience that has already happened and usually there will be repetition.
It’s true that the Western sanctions have impacted Russia’s economy in the first place. But right now, Russia is countering it by cutting off energy and gas supplies to Europe. Because of the gas wars, Europe is now divided as they may try to avoid recession.Yes, Russia tried to blackmail the countries of Europe, selectively reducing or cutting off gas and oil supplies to individual countries. To avoid this blackmail, the EU made a historic decision to get rid of energy from Russia. To do this, they are reorienting themselves to other suppliers, and also set a course for a quick transition to sources of alternative "green" energy. The first time, of course, will be difficult. However, today the EU countries are successfully coping with this problem. At the same time, it will be a catastrophe for Russia in the long run.
It’s true that the Western sanctions have impacted Russia’s economy in the first place. But right now, Russia is countering it by cutting off energy and gas supplies to Europe. Because of the gas wars, Europe is now divided as they may try to avoid recession.Yes, Russia tried to blackmail the countries of Europe, selectively reducing or cutting off gas and oil supplies to individual countries. To avoid this blackmail, the EU made a historic decision to get rid of energy from Russia. To do this, they are reorienting themselves to other suppliers, and also set a course for a quick transition to sources of alternative "green" energy. The first time, of course, will be difficult. However, today the EU countries are successfully coping with this problem. At the same time, it will be a catastrophe for Russia in the long run.
The United States was absolutely right in warning Russia of dire consequences for it in the event of a military attack on Ukraine. However, even the United States did not imagine the depth of the current fall and global isolation of Russia as a result of such an act. International sanctions are gradually ruining the Russian economy and throwing it back into the last century. Russia has recently been recognized by the European Parliament and NATO as a terrorist country, since the Putin regime staged a genocide of the Ukrainian people, regularly firing rockets and all types of weapons at peaceful cities of Ukrainians.
With the news of the impending invasion by Russia into Ukraine, the USA administration of sleepy Joe Biden has been spewing warning of big economic embargo that can befall the economy of Russia,
The need to switch to the use of green alternative energy is long overdue. Even before this Russian war in Ukraine, Europe had a strategy to move from the current carbon-based energy sources, which pollute the environment, to alternative sources, including solar and wind energy. Russia's aggression against Ukraine, and especially Russia's use of oil and gas as a weapon and blackmail of all European countries, has only significantly accelerated this process. In these difficult conditions, the transition is happening as quickly as possible. This is one of the few positive consequences of this war...
I think green energy is good solution for EU because russian cutting or reduction oli and gas for EU , As you said.
It will be big crisis..
Hopefully this war will end soon, and we can live together..
As we know every war have bad effect for economic
The need to switch to the use of green alternative energy is long overdue. Even before this Russian war in Ukraine, Europe had a strategy to move from the current carbon-based energy sources, which pollute the environment, to alternative sources, including solar and wind energy. Russia's aggression against Ukraine, and especially Russia's use of oil and gas as a weapon and blackmail of all European countries, has only significantly accelerated this process. In these difficult conditions, the transition is happening as quickly as possible. This is one of the few positive consequences of this war...
I think green energy is good solution for EU because russian cutting or reduction oli and gas for EU , As you said.
It will be big crisis..
Hopefully this war will end soon, and we can live together..
As we know every war have bad effect for economic
True, it will obviously not end soon and may serve as an impetus for the escalation of new hotbeds of tension.
but indeed war does not solve all problems and must sit at the negotiating table, hopefully the war can end soon.[/size]For Ukraine now to sit down at the negotiating table with Putin means losing not only part of its territories, but also statehood, means additional killings of hundreds of thousands of civilians in Ukraine. In the occupied territories, the Russians kill civilians for the symbols of Ukraine found in them and statements about belonging to Ukraine, that is, they want to destroy the Ukrainians as a nation. In terms of the number of war crimes against Ukrainians, the Russians far surpassed the Nazis during World War II, so no negotiations with them are possible.
Hopefully this will be a positive step for crypto in the future. Indeed, Bitcoin can be an alternative for a country when it is blocked. With the use of Bitcoin in this transaction, it can trigger price movements and increasingly be given a trust by all people.With the introduction of an economic embargo on the import and export of certain groups of goods, the problem is not so much in paying for their supply or purchase from the country that has been subject to sanctions, but in the very movement of these goods in circumvention of the imposed sanctions.
Information has appeared that the EU countries have already agreed not only on the marginal price for oil, but also for gas when it is supplied from Russia. This will mean a sharp decline in energy supplies from Russia and the loss of the budget of at least a third of its previous revenues. The aggressor country will not be able to finance the war in Ukraine enough, which is what the international community is trying to achieve.
So, soon Russia will face a real financial collapse worth billions of dollars, associated with a complete embargo on the export of petroleum products to Europe. The oil ceiling is already "mowing down" Russian revenues, but the worst is yet to come for Russia.
So far, Russia is able to sell any volumes of oil at a discount to India and China, but oil products, for which Europe will close its market in February, Moscow will not be able to sell to Asia. The Chinese and Indians have their own large oil refining capacities, so they do not need oil products from the Russian Federation. They can only buy crude oil, and then at a deep discount.