Thursday, October 6, 2022
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Cryptocurrency prices fall due to the tension of a nuclear disaster in Europe

According to various news sources, an attack has happened in Ukraine, which involves nuclear materials. Europe’s biggest nuclear power plant, Zaporizhzhia, was bombarded by Russian soldiers. Live stream video recorded the fire, which showed flames popping out of the main facility. The footage appears to show what appears to be flares being launched towards the power facility. It’s possible that the fire was started by a flare rather than as a direct result of the bombardment.

As the news emerged, stocks, futures, and cryptocurrency prices fell due to fears of a disaster much worse than Chernobyl. The S&P 500, Dow Jones Industrial Average, and NASDAQ Futures all dropped sharply, approximately 2%, in the minutes after the news.

During the night, tensions increased as international leaders asked Russia to stop its attack on the nuclear facility. BTC dropped to a low of $41,000 before rebounding marginally. It is now trading around 7% lower than the recent high on March 2.

The International Atomic Energy Agency says that a news conference will be held today at 10:30 CET to talk about the situation.

According to recent information, Russian troops control the power plant. If Ukraine tries to retake control, fighting could erupt again. These anxieties may be to blame for the present market volatility, as BTC gave up its gains from this morning, plunging to roughly $40,800 before quickly returning to over $41,500.

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Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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