Business News Asia
Bitcoin price has seen a huge bounce this morning after the downward correction earlier. The tensions between Russia and Ukraine also keep Bitcoin and the crypto market further down.
Today (Feb. 26) at 7:40 a.m., Bitcoin hit its high of $40,330 before falling back. Previously, the market price had fallen to $34,400 on February 24.
Global markets such as the stock market and crypto markets have seen a significant downturn in the past weeks. This is due to the fear and tension of people fearing a third world war with Russia and Ukraine as triggers.
The incident prompted people to move away from the stock market and crypto market to buy gold or other safe havens instead.
There are also reports that the Russian government is introducing Bitcoin as legal tender to avoid Western sanctions. Furthermore, efforts are coming from people around the world to donate Bitcoin to the Ukrainian government. This shows that people are starting to turn their eyes to Bitcoin.