Bitcoin Hits Nine-Month High Amid Global Financial System Worries

I måndags ökade priset på bitcoin kurs med 4%, och nådde sin högsta nivå på nio månader, samtidigt som oron för en potentiell bankkris spreds. Silicon Valley Banks kollaps tidigare denna månad och UBS senaste förvärv av Credit Suisse har bidragit till oro kring det globala finansiella systemet.

2023-03-24 13:58

Trijo News

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This Monday, as worries about a lingering banking crisis spread, the price of Bitcoin jumped by as much as 4%, reaching its highest level in nine months. Concerns about the global financial system have been raised in the wake of the Silicon Valley Bank's collapse earlier this month and UBS' recent acquisition of Credit Suisse. As governments and central banks attempt to boost market confidence, Bitcoin's advantages, such as its decentralization, have gained more attention. Bitcoin has been increasing significantly since the FDIC took over Silicon Valley Bank and now stands at $28,302.60.

According to Tom Lee of Fundstrat, the cryptocurrency’s current robust performance is evidence of its resiliency. He advised investors to maintain an overweight position in the asset. But, Katie Stockton of Fairlead Strategies is holding off on being bullish about Bitcoin until there are more indications of support over the $25,000 mark.

“A breakout would require consecutive weekly ‘closes’ above resistance and would complete a basing phase in a bullish long-term development. The next resistance is a nearby zone of $27,300 to $28,200. We would await confirmation before assuming a more bullish bias,” says Stockton.

According to Sean Farrell, head of digital assets at Fundstrat, the growing link between Bitcoin and gold suggests that some investors may be considering Bitcoin as an alternative investment.

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