Crypto in a time of war. March Market Outlook | by Blockchain.com | @blockchain | Mar, 2022

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March Market Outlook

  • Perhaps the most significant military conflict since the second world war
  • Rapidly rising prices, including food and oil
  • A Federal Reserve aiming for materially higher interest rates
  1. Market Movements
  • As we are set to publish bitcoin has declined slightly since the start of the conflict in Ukraine while also seeing an increase in its crypto market “dominance” (bitcoin’s total crypto market value share)
  • In February crypto rebounded, with Bitcoin (BTC) up +12.2% and Ethereum (ETH) up +8.5%
  • In February the average number of daily transactions (0.4%) and payments (1.1%) gained slightly over January
  • The continuing increase in bitcoin’s estimated hash rate speaks to the medium-term price confidence of bitcoin miners and the availability of economically attractive sources of energy

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