Bitcoin and the rest of the crypto Market is absolutely running right now and there’s a ton of evidence to suggest things are about to get a lot more crazy in every direction.
So we’re going to be talking about that in today’s Blog starting with this absolutely insane week that, Bitcoin has had because we just broke an astronomical record look at the last seven days for Bitcoin.
Here just the last three days alone, we went from just under 20 000 per Bitcoin now to 27000 per coin and this is historical. This is the most crazy run we’ve seen for Bitcoin since 2022.
Historical moment in the last 12 months and it is showing with the data that it’s most likely just starting we can see right here that, Bitcoin has nearly recovered all of the losses, it had in 2022 after a cryptocurrencies resumed their rally on Friday. Now climbing above 27 000 but the question is, why is this currently happening and there are two Mainer reasons for this number.
One, the FED is of course helping provide liquidity to a number of different financial institutions and banks that, were looking like they were eLiquid and potentially facing bankruptcy and this is obviously really helpful but further more, we also have a huge problem in the banking sector and that is 186 banks have been found to have similar risks as a Silicon Valley Bank, which just filed for chapter 11 of bankruptcy. so, what does this mean specifically you might be wondering.
Well to answer that question, what is a safer alternative than a centralized banking institution with fractional reserved banking, where they only hold 10 percent of the cash that you give them, Bitcoin that’s absolutely correct Bitcoin does not have any centralized institution, that can go ahead and mismanage or misappropriate your funds.
So that’s why a lot of investors right now are trusting Bitcoin over the traditional banking system and honestly, I completely under understand that sentiment, you have no risk of your Bitcoin just off and running away because people are spending it on wisely.
Well that’s a huge risk right now in the banking sector, because there’s no real way of knowing which is the next bank that’s gonna have to file for bankruptcy, and well yeah it’s looking like that number is continuing to grow every single day.
So with that in mind, I believe this is extremely bullish for cryptocurrency, we’re most likely gonna see more and more people dump money into Bitcoin specifically as Banks go bankrupt, because it’s a much safer alternative at the current time.
