After a Missile Struck Poland, Bitcoin, Ethereum, and Other Cryptocurrencies Declined

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Last Updated on November 16, 2022 by Bitfinsider

Following news that Russian missiles killed two people in Poland, Bitcoin and Ether dropped together with the bulk of the top 10 cryptocurrencies by market capitalization on Wednesday morning.

According to paramedics, two people were murdered in an eastern Polish village close to the Ukrainian border. According to some news reports, the deaths were brought on by what Kyiv, the Ukrainian capital, termed as the bloodiest Russian missile attacks since the country’s conflict began.

The explosion prompted U.S. President Joe Biden to call an emergency meeting of NATO and Group of Seven (G7) leaders on Wednesday, which Ukrainian President Volodymyr Zelenskyy described as a “very major escalation.”

Although Biden deemed it “unlikely” that Russia fired the missile that killed two people in NATO partner Poland, he did back Poland’s investigation into what it claimed to be a “Russian-made” missile.

According to Article 5 of the agreement, a deliberate hostile action against NATO member Poland could result in a collective military response from the alliance.

However, in an effort to allay concerns that the conflict in Ukraine would spill over the border, Poland and NATO stated on Wednesday that a missile that struck their nation was likely an accidently launched missile by Ukraine’s air defenses rather than a Russian strike.

The values of major cryptocurrencies could experience an unexpected decline as the conflict between Ukraine and Russia threatens to reach Polish territory. To predict the next potential trajectory of BTC, ETH, and other top cryptocurrencies, crucial thresholds have been set.

According to CoinMarketCap data, Ethereum (ETH) was selling for $1211, down 4.2% while Bitcoin (BTC) was trading at $16,517, down 2.1% over the past 24 hours.

Following initial reports of the missile attack, equities fluctuated and the dollar rose briefly, according to Marc Chandler, chief market analyst at Bannockburn Global Forex in New York, since Bitcoin and the larger market were under pressure and statistics suggested inflation was dropping.

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