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Crypto vs gold: Bitcoin losing out to gold has analysts eyeing $30k level

Bitcoin dropped to a more than two-week low as fears of a possible Russian invasion of Ukraine prompted some analysts to predict the largest cryptocurrency could slide toward the key $30,000 level

Bitcoin
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Bitcoin dropped for a sixth straight day, touching a low of $36,372 on Tuesday. (Photo: Bloomberg)

Joanna Ossinger | Bloomberg
Bitcoin dropped to a more than two-week low as fears of a possible Russian invasion of Ukraine prompted some analysts to predict the largest cryptocurrency could slide toward the key $30,000 level.  

Bitcoin dropped for a sixth straight day, touching a low of $36,372 on Tuesday after Russian President Vladimir Putin said he’s recognizing two self-proclaimed separatist republics in eastern Ukraine and ordering troops there. Other cryptocurrencies also declined, with Ether off as much as 2.9% and XRP down as much as 6.7%. 

Bitcoin dipped below $40,000 level over the weekend and kept weakening as the Ukraine crisis deepened, undermining

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First Published: Feb 22 2022 | 1:49 PM IST

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