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Are Bitcoin and Cryptocurrencies Profiting from the Banking Crisis?

2023-03-24T12:47:14.551Z


DECRYPTION - Since the collapse of three American banks, the most famous cryptocurrency has regained more than 30% in two weeks.


Looking at the evolution curve of the Bitcoin price since the collapse of Silicon Valley Bank on March 10, the crisis in the banking sector in the United States seems to be benefiting cryptocurrencies.

On March 23, Bitcoin was trading at over $28,500, up more than 30% over 14 days, according to CoinGecko.com.

In its wake, Ether and several other cryptocurrencies (XRP, Solana, Cardano...) experienced double-digit growth.

In total, the total crypto market capitalization has climbed more than 20% since March 10, reaching $1.2 billion on March 23.

Other data make it possible to understand this clear renewed interest in the crypto sector for the past two weeks,

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Source: lefigaro

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