Crypto Crash Because of Russia & USA?
The crypto market suffered a major loss! To know the reason for this, check out our latest video!
In the last 24 hours, the global cryptocurrency market has crashed like a bomb. Not only Bitcoin, but other cryptocurrencies such as Solana, Shiba Inu, Dogecoin, Ethereum etc., also experienced a significant drop in share price. Many suffered many major losses because of the crash. Experts say that the crypto market crashed because of Russia & the USA. Let me explain. Russia has always kept changing its mind about cryptocurrency. For a long time, the Russian government felt crypto is unsafe, the market can crash anytime and they were scared it can be used for terror activities. So it was banned.
Then in 2020, they legalised cryptocurrency. The government said crypto can only be used as an investment, it can not be used to make payments. Now on 23rd January 2022, the Russian Central Bank said that it is planning to table a proposal to the government which bans all forms of cryptocurrency in Russia. The Central Bank feels that cryptocurrency can affect the Russian economy and make Russia’s economy unstable. In Order to ensure the financial safety of Russia’s citizens, the central bank wants to ban cryptocurrency. Another reason for this is that Joe Biden, President of the USA, is planning to release new rules to regulate cryptocurrency. Now if the Russian central bank really bans crypto and Biden announces the rules, we will have to wait and watch to see what happens to the crypto market.
