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Today, March 5, the price of bitcoin fell to the level of $39,000, having decreased by 5% in a day. Concerns about the safety of the Ukrainian nuclear infrastructure led to a decline not only in cryptocurrencies, but also in traditional markets – during the day, the S&P 500, following European indices, fell by 1.4%.
Bitcoin is correcting as tensions rise in Ukraine, fear is also intensifying as gold is skyrocketing. Perhaps we will see a rebound, in this case we consider 43.1-43.5 thousand dollars as a potential resistance point.
In general, the markets are shaky, altcoins are also falling. Looking ahead, however, the macro outlook looks bleak due to a combination of commodity inflation, the weakening ability of central banks to tame it, and the damage done by the fight against the coronavirus over the past two years. You can already see how other markets are starting to show serious cracks in the foundation: Hong Kong lost 100% of its profits after the coronavirus, and it looks like European markets are next in line.
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