I would say it's all about some and demand.
It is possible for Bitcoin to jump to jump to 50k within this week and definitely in the near future if it doesn't make it by this week.
Financial sanctions on Russia and removal of Russian banks from SWIFT surely will have a negative financial impact on Russia. They could ignore it on a short term basis, but as time drags on, the burden will set in.
Hence, crypto currency will be their next best option of doing financial transactions with the rest of the world such as of payment and receipts. Anonymity and difficulty in tracking and and monitoring seems to be the best way to get around these sanctions and measures taken against Russia.
That being said, demand for these crypto currencies will said and Bitcoin being the largest and most widely known and traded crypto currency will stand to benefit the most.
Supply-wise, mining of coins is getting increasingly difficult and requires more time. There is a limit to how many that can be eventually mined.
With demand on the increase and when supply is slowing down with a limited number of coins that can be mined, it's only a matter of time that trading above $50k is a norm.
Therefore it's possible for Bitcoin to hit 50k within this week, and a definite in the near future.
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- about some and demand
(should be supply)
- crypto currencies will said
(should be surge)
😐