Bitcoin price continued its decline since Thursday (3/3) last week, and fell to the level of US $ 37,000 on Monday (7/3).
Quoting CoinDesk on Monday (7/3) at 2:50 p.m., Bitcoin price was at US$ 37,970,31 or down 3.77% in the last 24 hours.
“The price of (Bitcoin) will rise if there is a de-escalation in the Russia-Ukraine conflict,” Joe DiPasquale, CEO of BitBull Capital, told CoinDesk.
The Russian military will stop firing and open humanitarian corridors in several Ukrainian cities including the capital Kyiv at 10:00 Moscow time on Monday, the Russian Defense Ministry said.
The humanitarian corridors, which will also be opened in the cities of Kharkiv, Mariupol and Sumy, are being prepared by Russia at the personal request of French President Emmanuel Macron and in view of the current situation in those cities, according to the Russian Ministry of Defense.
Earlier, Russia announced a ceasefire on Saturday to allow safe passage for civilians out of the Ukrainian cities of Mariupol and Volnovakha.
According to DiPasquale, Bitcoin price could hit its next resistance, just below $36,000 before bouncing back to $40,000.
"Many long-term investors may see this as a buying opportunity", he added.
But, DiPasquale noted, "new investors are nervous given the global uncertainty as well as uncertainty about US President Joe Biden's executive order on crypto in the near future".
