[Bitcoin Now] Russia Declines Amid Imminent Ukraine Invasion News... Falls to 48 Million Won Range

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] As the possibility of war between Russia and Ukraine grows, the price of Bitcoin, a representative cryptocurrency, has fallen to the 48 million KRW range.

According to the domestic cryptocurrency exchange Upbit, as of 12:30 PM on the 19th, the price of Bitcoin is trading at 48.88 million KRW, down 0.26% (129,000 KRW) from the previous day. On the morning of the previous day, the price of Bitcoin traded in the 49 million KRW range, dropping more than 7% compared to the day before, breaking below the 50 million KRW mark for the first time in 15 days.

The price of Bitcoin has been declining since U.S. President Joe Biden stated in a national address at the White House on the 18th (local time) that Russian President Vladimir Putin appears to have decided to invade Ukraine within days, escalating the war crisis. President Biden said, "Russian troops are currently surrounding Ukraine along the border," and "At this point, I am confident that he (President Putin) has made the decision."

As geopolitical risks in Ukraine increase, the U.S. Nasdaq index, which is centered on technology stocks, also fell. On the 18th, the Nasdaq index dropped 168.65 points (1.23%) to 13,548.07.

This content was produced with the assistance of AI translation services.