Home Cryptocurrency Bitcoin crosses $44,000 mark amid rumors of a thaw in Russia-Ukraine relations

Bitcoin crosses $44,000 mark amid rumors of a thaw in Russia-Ukraine relations

The ensuing war between Russia and Ukraine might have been averted. While it is too early to predict anything concrete on this, positive signs have already started to appear in the cryptocurrency market. Take for instance, Bitcoin which along with other altcoins have shown an upward trend. Bitcoin prices has risen to $44,402 which is an improvement by 4 percent. Similarly, Ether has risen to $3170 which is an improvement by 7.9 percent.

Russia has earlier stated they have pulled back some troops it had earlier deployed in forward areas along its border with Ukraine. While that is yet to be confirmed by independent sources, Moscow has welcomed diplomatic efforts to diffuse the tension. This has led to a conducive environment for cryptocurrency and the stock markets worldwide. This has also led to the soothing of oil prices as well.

Apart from crypto, major equity markets in the world too showed impressive growth. For instance, Nasdaq rose by 2.5 percent while the Dow Jones Industrial Average increased by 1.2 percent. Similarly, the S&P 500 registered positive growth by 1.5 percent. The U.S. producer price index or PPI at 9.8 percent remains an area of concern though.

A senior analyst at OANDA Americas, Edward Moya said factory-gate inflation is still hot which could be an indication of inflation to be on the high for some more time. This again could prompt the federal agencies to go for a half-point rise in rates.

That said, Seth Ginns, who heads the liquid investments division at crypto investment firm CoinFund as well as the managing partner of the firm continues to be positive on the developments so far and remains optimistic of the growth trend to continue in future as well.


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