| Is it déjà vu?
Russia also used military force in 2014, but that time, it was in Southern Ukraine, as the country annexed Crimea. Then, in 2015, the Fed was beginning its rate hike cycle that would last until 2018.
Market have witnessed astronomical advances in recent years. At the time of this writing, the S&P 500 was trading at roughly 4,400, and bitcoin was close to $41,000.
And bitcoin and the crypto industry have come a long way from 2015, when the Silk Road was still a recent memory.
Digital assets including bitcoin have experienced rising institutional adoption. Governments and businesses across the world have been exploring the possibilities associated with blockchain technology and digital currencies.
Currently, more than 90 countries have started researching central bank digital currencies, according to figures from the Atlantic Council, a nonpartisan think tank.
Is bitcoin behaving more like typical risk assets? While the recent correlation between traditional assets and bitcoin has been high, other mitigating factors —inflation and geopolitical turmoil—could negatively impact the digital asset's price.
Recently, crypto has generated significant visibility for its role in humanitarian efforts.
Reportedly, Ukraine has received over $100 million in crypto donations as the country defends itself against the Russian invasion. Meanwhile, Coinbase CEO Brian Armstrong tweeted that the firm wouldn’t ban ordinary Russian citizens from using its platform, stating that "everyone deserves access to basic financial services unless the law says otherwise.”
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