Russians See Bitcoin as a Safe Haven – Volumes Explode, and the Bitcoin Price Rises 20% in 24h

Is this the spark Bitcoin was waiting for to start a new bullish wave?

The current crisis between Ukraine and Russia lends credence to what Bitcoiners have been saying for a long time: Bitcoin is the perfect safe haven in times of crisis. As Putin's Russia continues its war in Ukraine, this is a perfect illustration.

The trigger in the previous hours? The economic and financial sanctions taken by America and the European Union against Russia. The latest sanctions include cutting off access to the SWIFT interbank network for Russian banks while prohibiting all transactions with the Russian central bank.

Since these sanctions were announced, media images from Russia show a total panic of the people. The people want to get their money back, but especially the American dollar. Putin has ordered Russian banks to limit withdrawals to prevent a total collapse of the Russian banking system.

The Russian ruble is in free fall against the US dollar: