War Tension in Cryptocurrency! The Rise Isn't Permanent Again

Cryptocurrencies continue to suffer from tension. The tensions between China and Taiwan and, finally, the developments that came to a war between Kosovo and Serbia continue to resonate in the markets. Although the leading cryptocurrency Bitcoin gained strength after the Fed announced its interest rate decision, long-term stability did not occur again.

While the Global Markets are struggling with inflation, the war tensions between the countries are starting to increase day by day. Money markets also continue to be affected by the tensions of the war.

While the world economy is going through difficult times, central banks continue to take steps to maintain price stability. The US Federal Reserve raised interest rates by 75 basis points at its last meeting, raising it to 2.5 percent. In the light of the Fed's interest rate move and then Fed Chairman Jerome Powell's assessments for the future, Bitcoin started to make slight upward movements.

Those who introduced themselves as experts for Bitcoin, which exceeded the level of 24 thousand dollars, started to draw a roadmap again and determined the target price, support and resistance points.

However, war tensions emerged yesterday, which escalated. Cryptocurrencies started to show a bearish chart again with the war tension.

Cryptocurrencies Have Never Seen War!

Cryptocurrencies have not seen war since they first came out. The reactions of cryptocurrencies to the war had not been tested. Cryptocurrencies, which were stagnant and in a downtrend in the war between Russia and Ukraine, started to decline again with new war signals.

China - Taiwan and Kosovo - Serbia War Bells Ringing

Tension in the Sino-Taiwan conflict has peaked with Beijing's latest move. While Taiwan continued its preparations against a possible Chinese invasion, a move like intimidation came from China. While the possible Taiwan visit of the Speaker of the US House of Representatives Nancy Pelosi increased the US-China tension, the Chinese army held a large-scale military exercise in the Taiwan Strait.

Kosovo - Serbia Tension

Ethnic Serbs in the north of Kosovo have edited the Kosovo government's license plate and identity documents issued by Serbia. The day before the regulation came into effect, tensions rose in the region and roads near two important border crossings with Serbia were closed.

The Kosovo government announced that as of August 1, the documents issued by Serbia to the passengers coming from Serbia will be replaced with the new entry-exit IDs issued by Pristina and valid for three months.

Tensions began to rise due to these developments and air raid sirens were heard in Mitrovica in northern Kosovo and many emergency vehicles were seen in the area, according to local media reports.

Bitcoin Declines

Cryptocurrencies, which entered into a war climate, started to decline. The leading cryptocurrency Bitcoin is trading at $ 23,381 with a decrease of 1.57 percent. Bitcoin is trading 66% behind its historical high of $69,000.

Unable to Recover on Ethereum

Although the Ethereum side does not react as much as Bitcoin, it continues its horizontal course. Ethereum is finding buyers at the level of $ 1693, with a decrease of 0.15 percent. Ethereum is trading 64 percent behind its historic high.

Ripple is on a Lifeless Cruise

Ripple, which is in trouble with lawsuits, is also weak. Ripple is trading at $0.38, down 1.50 percent.

No Signs of Recovery in Doge and Shiba

Dogecoin, which is guided by the manipulative statements of billionaire businessman Elon Musk, cannot get rid of the downtrend. Dogecoin is trading at $0.06974, down 1.20 percent.

The Shiba Inu, on the other hand, is not performing well, although it shows small upward movements. The Shiba Inu is trading at $0.00001239 with a premium of 2.4 percent.

Be Careful When Investing in Cryptocurrency

While investing in cryptocurrencies, it is necessary to take a position knowing that there is no margin gap, that the crypto asset can suddenly double or fall to zero, and that any fundamental and technical analysis does not work clearly.

In addition, people who introduce themselves as experts in crypto money markets, which are not subject to any regulation, should not be trusted. These people have not received expertise by any state authority, and there is no legal license to do so.

You should not forget that you may encounter big gains or losses when investing in crypto money.