Bitcoin is declining in favor of gold... and expectations that it will go down to $30 thousand

The price of the cryptocurrency bitcoin fell to its lowest level in more than two weeks, amid fears of the possibility of Russia's invasion of Ukraine, as analysts expect the digital currency to decline to about $ 30 thousand per unit.

Bitcoin recorded little change after falling to $ 36,372 on Tuesday, following the announcement by Russian President Vladimir Putin that he recognized the independence of the breakaway republics of Lugansk and Donetsk in eastern Ukraine.

The prices of other cryptocurrencies also fluctuated, as the price of Ether fell by 3% before rising after that, and the price of XRP fell by 6.7%.

And the Bloomberg news agency indicated that Bitcoin fell at the beginning of this week to less than 40 thousand dollars per unit, and continued its decline in light of the increase in geopolitical tensions due to Ukraine, which led to a decline in the attractiveness of higher-risk assets in favor of safe assets such as gold.

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