At first I thought that as long as conditions in Ukraine were not conducive the price of bitcoin would not increase but it turned out that all of this was wrong because lately the price of bitcoin has been able to rise drastically even though the war between Russia and Ukraine is not over yet. today the price of bitcoin went up very drastically and the price of bitcoin was back above $45k, most likely the price increase that occurred during the last week could be a sign that the bearish phase will end soon.
Well as I have noticed, bitcoin price and the war between the two countries have nothing to do with it. Bitcoin price will increase due to the demand and even there is a war, bitcoin was still useful to them and there are too many people using it, especially donating funds to Ukraine.
Now, bitcoin shows resistance and at the range of $45k in the market which is I believe will not down far at this price range that recently had. Let us wait the moment when bitcoin is on the bull trend and I think it is near to come.
Still, the increase in the price of bitcoin cannot be accurately predicted what causes the price of bitcoin to rise in my opinion because many are buying because of the good news about Russia.
because the Russian government is planning to use this cryptocurrency as a means of payment for buying and selling crude oil, and a lot of good news about bitcoin will be a good sentiment for other cryptocurrencies, and the bitcoin price is currently approaching 47k which I think will be heading to 50k in the near future.
To this day the price of bitcoin is still around $47000 and I'm also sure that this month the bitcoin price will be able to pass $50k.
The current market situation has started to bounce back and this is a sign that there will be good news for the altcoin market as well.