Border between Ukraine and Russia is getting hotter, Bitcoin price is still below US$ 40,000

Bitcoin price is still below US$ 40,000 but is trying to bounce back amid heightened tensions on the Ukraine-Russia border and concerns over continued inflation.

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Referring to CoinMarketCap data on Monday (21/2) at 13:55 WIB, the price of Bitcoin was at US$ 39,222.55 or slightly up 0.88% compared to the previous 24 hours.

In the last 24 hours, the price of Bitcoin had plunged to the level of US $ 38,000, to be exact at US $ 38,112.81. Bitcoin price has been under US $ 40,000 since Friday (18/2) last week.

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Bitcoin price movement occurred when United States (US) intelligence reported about Russia having decided to attack Ukraine.

Moreover, investors are bracing for the first of what they expect regarding several rate hikes by the US central bank, the Federal Reserve.

“All of these factors may have led investors to take risks from crypto,” said Joe DiPasquale, CEO of BitBull Capital, as quoted by CoinDesk.

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DiPasquale sees the next Bitcoin price support line around $35,000.

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