Bitcoin price forecast: how do Bitcoin work in the crisis between Russia and Ukraine ?

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Ukraine voted to legalize cryptocurrencies despite ongoing geopolitical tensions


As tensions between Russia and Ukraine continue to increase, Bitcoin (BTC-USD) may emerge as a victor. The Ukrainian parliament voted overwhelmingly yesterday to legalize cryptocurrencies, including Bitcoin (BTC). In response to the latest parliamentary approval, bitcoin price expectations are all over the place today.


So what do you need to know about the latest crypto news out of Ukraine?


Despite growing concerns about a clash between Russia and Ukraine, Ukraine finds time to handle another critical issue. The Law of Ukraine on Virtual Assets was enacted with more than 270 votes, according to a statement from the parliament. The bill, which follows the president's suggestion, permits crypto firms to operate freely throughout the country.


While cryptos were not forbidden in Ukraine previous to the bill, it clarifies the legislative landscape and ensures that digital assets are protected. Previously, despite Ukraine being one of the top countries for crypto trade, crypto existed in the shadows in the country, according to Bloomberg.


Ukraine's deputy prime minister, Mykhailo Fedorov, spoke highly of the law.


"The new law provides an additional chance for our country's economic progress. Foreign and Ukrainian crypto firms will be able to operate lawfully, and Ukrainians will be able to access the world market for virtual assets in a convenient and secure manner."


Regardless of the news, market uncertainty continues to dominate. bitcoin price fell below $40,000 for a brief period today, alarming investors all across the world.


Let's take a look at where the king crypto is headed, with BTC-USD now trading around $40,244.


Bitcoin Price Predictions


  • bitcoin price, according to Wallet Investor, will continue to thrive in the short and long term. The site predicted a one-year price of $68,942 per coin and a five-year price of $174,872 per coin. By 2027, this represents a more than 300 percent increase.
  • DigitalCoinPrice is likewise a cryptocurrency bull. The site forecasted a price of $56,301 in 2022 and $116,706 in 2027.
  • Unsurprisingly, CryptoNewsZ is likewise positive on bitcoin price. According to the website, the coin might reach $72,000 per coin this year. It is expected that the coin will trade between $100,000 and $125,000 in 2025.

 

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