Bitcoin Price Plummets Amid Ukraine-Russia Conflict

The market once described Bitcoin as "digital gold", which will replace gold as a safe haven for capital, but from the recent trend, Bitcoin and the safe-haven attribute are gradually drifting away. Prices of cryptocurrencies such as bitcoin plummeted on February 22 as investors fled risky assets after Russian President Vladimir Putin ordered troops into Ukraine. According to CNBC and other foreign media reports, according to data from CoinDesk, as of 8:25 a.m. Hong Kong time on the 23rd, the price of bitcoin was at $38,217.12. Bitcoin prices mostly settled around $45,000 last week, but fell below $40,000 on Friday (18th) amid heightened geopolitical tensions.