Bitcoin has been moving sideways around its current levels as the war started by Russia with Ukraine rages on. The first crypto by market cap could see more bloody days ahead, as uncertainty about the outcome, sanctions to the Russian government, and their impact across the market increases. Related Reading | Digital “Ukrainian” for Sale: All Funds Will Be Spent on the Needs of the Army At the time of writing, Bitcoin was trading at $38,284 with 0.7% profit in the past 24-hours. However, it quickly managed to get above previous resistance and trades at $40,561 with a 7.66% profit on the daily chart. In a recent report published by QCP Capital, the firm claims the Luna year of the Tiger has been marked by important negative events which took their toll on global markets. These include the Chernobyl Disasters, the Cuban Missile Crisis, the Korean War, and now the Russian invasion of Ukraine. Due to the international sanctions on Russia, its equity, bonds, and currency have been heavily affected. This reaction, QCP Capital said, could contribute with a rapid de-escalation of the conflict. Thus, buying the Bitcoin dip as it stumbles back into previous lows could be a profitable option for investors. QCP Capital reviewed the market reaction to previous conflicts in an attempt to assess a potential future reaction from the market. The report claims: Historically, war-related sell-offs have been great buying opportunities, parti...
