The extreme fear experienced by market sentiment did not accompany the price of bitcoin this Monday (28th), as it soared on several exchanges around the world.
It is digital currencies as a store of value and a form of currency that could lead to this new rise, as countries are legalizing payment methods.
In addition to Bitcoin, it is worth remembering that gold and stock exchanges around the world are also rising, indicating that there was no war in the financial scenario at the beginning of the week.
Bitcoin Soars Even as Markets Remain in Extreme Fear
On Monday, the price of bitcoin soared against the real, rising 4% to R$211,000 per coin in just 24 hours.
The price of each currency was $40,700.00 relative to the U.S. dollar, up 4.5% in one day, which indicates a favorable start to the week for the market.
However, according to the Fear and Greed Index, it is worth noting that Bitcoin's spike came in the midst of extreme market panic.
Extreme fear as Bitcoin rises at the end of the month in late February 2022 / Source: Alternative.me
Despite extreme fears in each month of February, which ended on Monday, bitcoin is on track to rise 5 percent over a 28-day period, even as the midway war drew attention to itself.
While Bitcoin has appreciated by a significant percentage through its trading in the market, for example, inflation in Brazil rose by 0.99% last February, which caused the purchasing power of the local population to fall.
In countries where fears of inflation, especially after the imposition of sanctions on Russia, are growing daily, Bitcoin has become a refuge for many.
Gold prices rise even in war-torn months
While bitcoin appreciated amid market fears, another asset that soared in February was gold, an asset that has been considered inflation and war-proof for centuries. The asset also rose 5% during the month, finally coming out on top on the international stage, especially in the last week.
In any case, the fall in world stock markets this month again raises concerns about the pressure on traditional financial markets. For example, in Brazil, Ibovespa was almost in a draw, falling 0.07% for the month.
The Nasdaq fell 4.6%, the Dow Jones plunged 4.7% and the S&P 500 fell 4.2%, showing that the major U.S. stock exchanges did not have a good time. The one commodity that stood out during this period was Brent crude oil, which rose 10% in February.