Did you know that cryptocurrencies will be the best banks in the short term?

The escalation of the Ukraine conflict and the various sanctions that the West has imposed on Russia, triggered European stocks to fall along with US stock futures. Given this scenario, many investors seek lower risk assets and, despite the volatility of cryptocurrencies, they can be a vehicle to evade the sanctions imposed.

This trend has been maintained for two days, as Bitcoin opened the week with a rise of 18% and yesterday it added 2% more growth. Jhon Torres, an economic analyst, assured that "the characteristics that crypto assets have make them become a way to protect money in the short term."

This, as a consequence of the measures that the different governments took against the Russian Central Bank, which has generated a constant devaluation of the ruble, and because buying dollars becomes complex for a citizen of that country.

“Crypto assets are a very favorable option despite the volatility. If you look at Bitcoin over the long term, it has always had an uptrend," the expert noted.

Some experts point to cryptocurrencies being able to de-risk and regain safe-haven status. And it is that according to CoinMarketCap, not only Bitcoin showed an upward trend, the second largest virtual currency, Ether, passed US $ 3,000 yesterday.

To what factors can this trend be attributed? Being free from government control, they are not affected by any sanctions and measures taken against Russia. In addition, "Bitcoin is difficult to confiscate, and it becomes an asset or an option to protect oneself in such complex macroeconomic moments and especially in countries like Russia," the analyst concluded.