Bitcoin went up over 6% in value since the conflict in Ukraine started (February 26, 2022)

Going up almost 3000 euro in value since Russia invaded, Bitcoin is on the rise again. And so are other cryptocurrencies. As global inflation is imminent and the prices of resources are going up as well, stock markets are going down. Investors are worried and jumping back into the safe haven of the alternative economy of cryptocurrencies, that doesn't depend on any local conflicts.

For several months, Bitcoin has been correlated with other risk assets like stocks, as more institutional investors got involved and short term investors who trade bitcoin like other risk equities have have entered the market. This made the popular cryptocurrency more of an investment tool for a while. Until the big sell offs started happening.

Bitcoin Donations Pour in to Help Ukrainian Military Fight Russia:

Cryptocurrency donations have poured into a nonprofit organization that provides support to Ukrainian soldiers after Russia launched a large scale attack on Ukraine. More than $5 million in Bitcoin has already been raised. Meanwhile, the group’s fundraising page on Patreon has been abruptly removed.

The chief scientist and co founder of blockchain analytics platform Elliptic, Tom Robinson, earlier tweeted that Cryptocurrency donations in support of the Ukrainian armed forces are soaring. "Cryptocurrency is increasingly being used to crowdfund war, with the tacit approval of governments," he was later quoted by CNBC as saying.

Trading Economics says the Inflation Rate in the United States is expected to be 7.20 percent by the end of this quarter:

The annual inflation rate in the US accelerated to 7.5% in January of 2022, the highest since February of 1982 and well above market forecasts of 7.3%, as soaring energy costs, labour shortages, and supply disruptions coupled with strong demand weigh. Energy remained the biggest contributor (27% vs 29.3% in December), with gasoline prices surging 40% (49.6% in December). Inflation accelerated for shelter (4.4% vs 4.1%); food (7% vs 6.3%), namely food at home (7.4% vs 6.5%); new vehicles (12.2% vs 11.8%); used cars and trucks (40.5% vs 37.3%); and medical care services (2.7% vs 2.5%).

So the inflation is expected to go up wild in the United States, causing a further increase in cryptocurrency value. And keep in mind that these numbers do not yet include the Ukraine situation. That will make the energy prices go up further.

Sources: https://www.cnbc.com/2022/02/25/bitcoin-btc-cryptocurrencies-rebound-after-sell-off.html https://news.bitcoin.com/bitcoin-donations-pour-in-to-help-ukrainian-military-fight-russia-over-5-million-in-btc-raised/ https://tradingeconomics.com/united-states/inflation-cpi