Is like 2023 bull run is ready for action as the cryptocurrency market is experience a significant gains in a face of banking crisis in US. A lot of dramas around crypto sectors and banking system lately, gives a big concern. You know how investor will feel about that? Insecure, fears, uncertainty, doubts
The ongoing crypto friendly banks failure drawn close attentions to US government and when government torchlights into the matter they know the contagion will be so much bad and it will impose badly effect on financial economy.
The failures of Silicon Valley Bank (SVB) and others led the Fed effort to manage a banking crisis to avoid spreading it to other European countries. Fed inject $300 billion in liquidityas a revival for the first time, QE 🤔 another new way it interpreted 'the revival of quantitative easing (QE). However, after the rebounds of Circle USD that depeg last week, the market have been experiencing this upswing in Bitcoin and other Altcoin.
Banking system failure could be the reason why crypto market is booming? What did you expect, Yes it is, the $300 billion injection is working I think.
Bitcoin is more bullish than before and it been recorded by Coinmarketcap that since June 2022 Bitcoin has not added up to 7% in a single day. So excited the market is waking, and Federal Infusion is working to boost the crypto market, but how long it is going to uphold this momentum.
Fed help bitcoin price pump above $26k is going to opens a road to $30k, $35k and before we know it the crypto winter will be over.