As tensions continue to mount between Russia and Ukraine, Bitcoin (BTC-USD) can end up winning. Yesterday, the Ukrainian parliament voted unanimously to legalize cryptocurrencies, including BTC. Bitcoin price predictions are everywhere today in response to the latest legislative approval.
So what do you need to know about the latest crypto news from Ukraine?
Well, despite growing concerns about a conflict between Russia and Ukraine, the latter country has found time to address another pressing issue. According to a parliament statement, the Ukrainian law on virtual assets was passed with more than 270 votes. The legislation, which is in line with the president’s recommendation, allows crypto companies to operate freely in the country.
Although cryptos were not banned in Ukraine before the law, this legislation outlines the regulatory landscape and protects digital assets. Previously, as Bloomberg reported, the crypto existed in the shadow of the country, despite Ukraine being one of the top countries for crypto trading.
Mykhailo Fedorov, the Ukrainian Deputy Prime Minister, had kind words for the law.
“The new law is an additional opportunity for business development in our country. Foreign and Ukrainian crypto companies will be able to operate legally, and Ukrainians will have convenient and secure access to the global virtual asset market.
Despite the news, market uncertainty continues to overwhelm the markets. Bitcoin briefly fell below $40,000 today, spooking investors around the world.
With BTC-USD currently sitting at $40,244, let’s see where experts think the king of crypto is heading.
Bitcoin Price Predictions
- Wallet Investor believes that Bitcoin will continue to thrive in the short and long term. The site came up with a one-year forecast of $68,942 and a whopping five-year forecast of $174,872 per coin. This represents more than 300% increase by 2027.
- DigitalCoinPrice has also been on the crypto mainstay for a long time. The site has set a 2022 price target of $56,301 and a 2027 forecast of $116,706.
- CryptoNewsZ is, perhaps unsurprisingly, also bullish on Bitcoin. The site estimates that the coin can reach around $72,000 per coin this year alone. For 2025, he thinks the coins will mostly trade between $100,000 and $125,000.
As of the date of publication, Shrey Dua did not hold (either directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.