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Why Is Bitcoin Taking A Much Harsher Beating?

Benzinga

1 Views • Feb 25, 2022

Description

The Russian invasion of Ukraine has disrupted markets, and FTX CEO Sam Bankman-Fried in a Twitter thread on Thursday speculated on why Bitcoin's market price is taking a harsher beating from the Russia-Ukraine crisis compared to equities. Bankman-Fried noted it makes sense for stocks to be down in the aftermath of Russian forces invading Ukraine but the situation is not as straightforward when it comes to Bitcoin. Algorithmic trades, popular in cryptocurrency trading, use historical trends — which could help explain the current price movement in Bitcoin. Algorithm-reliant traders sell on the news, based on this principle, while those counting on fundamentals tend to be buying, the billionaire said. "On net, Bitcoin ends up halfway in between." Bankman-Fried continued, saying that “maybe the real effect here has nothing to do with any of those things. Maybe it's liquidity. If you're risk-averse, maybe you're selling whatever you have right now, because who knows what'll happen. And markets are illiquid right now — who's buying volatile assets?”

Keywords & Tags

#stocks #bitcoin #inflation #business #Politics #altcoins #economic recovery #government #FTX #price movement #military #virtual currency #Moscow #Ukraine #economic outlook #fundamentals #troops #Ukrainian forces #Russian invasion #escalation #conflict #attack #war #Russias Ukraine Invasion #Sam Bankman-Fried #Algorithmic trades #trends #selling

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