Bitcoin, ethereum and cryptocurrency prices have swung wildly over the last week as Russia’s invasion of Ukraine sends shockwaves through global markets—adding to fears of a “cataclysmic market shift.”
The bitcoin price fell under $35,000 per bitcoin this week before rebounding sharply. Ethereum and other major cryptocurrencies have been equally as volatile as “extreme fear” grips investors.
Now, traders are braced for more severe gyrations after Russia was kicked off the world’s main international payments network SWIFT, with a former Russian Central Bank deputy chairman warning of “catastrophe” on the Russian currency market.
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