The market situation is uncertain until the Ukraine war is over

The digital currency market has fluctuated sharply since the beginning of the military conflict between Russia and Ukraine. Experts believe that the only way to restore calm to the market is to declare a permanent ceasefire in Ukraine.

To Report Kevin Desk ‌ On Thursdays and Fridays, the general market situation of many digital currencies was declining. Following these fluctuations, the levels that the price reached on Tuesday and Wednesday were lost.

The prices of assets such as stocks, digital currencies and certain commodities in which investing in high risk is fluctuating has fluctuated sharply over the past month; This shows that investors are still very skeptical about the future of the market.

Bitcoin prices rose about 7 percent on Wednesday after Putin announced that positive moves had begun during talks with Ukrainian officials. On Thursday and Friday, however, as the military conflict between Russia and Ukraine intensified, the jump was accompanied by a downward correction.

The way legislators have dealt with the digital currency industry during this period has also somewhat weakened the morale of investors. Reuters reported on Friday that several Emirati digital currency companies had faced a large number of Russian customers who wanted to convert billions of dollars of their digital assets into cash.

In addition, the White House and the Group of Seven (G7) on Friday imposed new sanctions on Russia, part of which is related to digital currencies. The group is set to publish a policy on the misuse of digital currencies to circumvent sanctions. The US Treasury Department also recently posted a brief guide on its website on the use of digital currencies in circumventing Russian sanctions.

The MRB Partners, an investment research firm, wrote in its report this week:

Unless a permanent ceasefire is declared in Ukraine, there will be a noticeable distrust in the market. This position has a direct negative impact on the bond stock market, but as it turns out, market conditions are approaching sell-off.

The institute expects the stock market to grow significantly after the end of the Russia-Ukraine conflict. As the correlation between the price performance of digital currencies and the stock market has increased over this period, Bitcoin could follow in the footsteps of this potential jump.

What are the signs of a fall in the value of Atrium against Bitcoin?

Atrium has lost about 20 percent of its value over the past 30 days, while the price of bitcoin has fallen by about 12 percent. The poor performance of Atrium and other market instruments that fluctuate more than bitcoin indicates that investors are less willing to take risks these days.

Analysts at Kevin Base, the largest digital currency exchange in the United States, say:

The break of the 40-week moving average support in the Atrium / Bitcoin market has pushed the price below 0.066 points. This downturn has been accompanied by an 8% drop in the value of Atrium against Bitcoin since the beginning of February; A measure that we typically use to measure the risk-taking of digital currency market investors. It seems that investors’ risk-taking and willingness to enter the market for assets other than things like bitcoin, which usually retain their value, are still low.

The chart below shows that prices in the Atrium / Bitcoin market have fallen below the 40-week moving average; Just like what happened during the downturn in 2018.