Russia’s invasion of Ukraine last week has brought even more volatility to the crypto market, experts say.
The global financial implications are just one of the many costs of war. Experts also fear a significant human toll, with Ukrainian President Volodymyr Zelensky announcing more than 100 Ukrainians were killed after the first day following the invasion. The invasion has also upended life for Ukrainian citizens, many of whom have sought to flee the country as Zelensky urges others to prepare to defend their homes against Russian soldiers and attacks.
As the war continues, volatility in global financial markets, including cryptocurrency, is sure to follow, experts say.
“Regardless of asset class, there’s a tremendous amount of volatility that comes with war,” says Doug Boneparth, a certified financial planner and founder of Bone Fide Wealth. “It’s going to make it that much more difficult for investors to stick to their strategies.”