# Bitcoin price tests 2022's lows as Russia attacks Ukraine | Tech News (HT Tech) > Bitcoin price fell as much as 8.5% to $34,337 after Russia's push to demilitarize Ukraine started with a barrage of missile attacks # Bitcoin price tests 2022's lows as Russia attacks Ukraine ## Bitcoin price fell as much as 8.5% to $34,337 after Russia's push to demilitarize Ukraine started with a barrage of missile attacks Aug 22 2022, 10:26 IST ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook.png) ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook-hover.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Share.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Shareclicked.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp-hover.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter-hover.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook-hover.png) ![Bookmark](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmark.png) ![Bookmarked](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmarked.png) ![Bitcoin price](https://images.hindustantimes.com/tech/img/2022/02/24/1600x900/f07f4fce-93f9-11ec-bd08-451cb6b5e596_1645723714903_1645723852756.jpg) While Bitcoin price pared its loss, it’s still down almost 50% from its all-time high set in November. (Bloomberg) ![Author Photo](https://images.hindustantimes.com/tech/static/revamp/images/png/HTTech-new-circle-logo.png) ### By BLOOMBERG Cryptocurrencies extended declines as Russia’s attacks on targets across Ukraine sent risk assets reeling, with Bitcoin slumping to a one-month low. Bitcoin price fell as much as 8.5% to $34,337 after Vladimir Putin’s push to demilitarize Ukraine started with a barrage of missile attacks on Thursday. While Bitcoin pared its loss, it’s still down almost 50% from its all-time high set in November. Second-ranked Ether declined as much as 12% to $2,301.84. Other coins like XRP, Cardano and Solana were down as well. Bitcoin’s swings during the past weeks of escalating geopolitical tensions have undermined the argument that cryptocurrencies offer a hedge in times of trouble. That’s in large part a result of its deepening integration into global financial markets, which causes it to move more like other risk assets, according to Ben Caselin, head of research and strategy at crypto exchange AAX . The traditional safe haven gold, meanwhile, surged to the highest level in nearly two years on Thursday. Also read click here. “This is a different level of anxiety,” said Kenny Polcari, managing partner at Kace Capital Advisors. “When push comes to shove, and people think about safety and where to put their money, I think gold trumps Bitcoin.” The Russia-Ukraine crisis “could drive prices significantly lower in the short-term,” said Jonathan Tse, head of trading at crypto platform Copper.co. “However, it could be what’s needed to find a bottom sooner, rather than an ongoing crypto winter for prices slowly grinding lower.” The next key level to watch for Bitcoin in the event of further declines will be $28,000 to $29,000, said Vijay Ayyar, vice president of corporate development at Luno, a crypto platform. If that threshold gets breached, “we could be looking at much lower levels in the low $20,000s and below.” Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. 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