The cryptocurrency market in today's realities

Abstract

With the development of information technology, cryptocurrencies have an increasing impact on the world and its economic processes every year. The purpose of the study is to determine the degree of impact of the current economic situation on the cryptocurrency market. This paper describes the concept of cryptocurrencies and their difference from fiat money. The change in the cost of cryptocurrencies, including bitcoin and ethereum, is considered. An analysis was made of the impact of the Russian-Ukrainian conflict on the change in the cryptocurrency market and its total volume. The main factors of the global trend towards a decrease in the volume of the cryptocurrency market have been identified. It also describes the state of the Russian and Belarusian cryptocurrency markets after the imposition of sanctions and restrictive measures by foreign cryptocurrency exchanges and provides alternative options for the implementation of cryptocurrency transactions. The scientific novelty of the work lies in a comprehensive study of current world events with an emphasis on their degree of influence on the cryptocurrency market. As a result, more damage from the imposed sanctions was determined than from the beginning of the Ukrainian-Russian conflict and the prospects for the development of cryptocurrencies, changes in their value and market volumes in the long term are described