The price of Bitcoin is surging, up 20 in the past day after regulators and the Joe Biden Administration stepped in to assuage investors that depositors in the failed Silicon Valley Bank would be made whole—and that the U.S. banking system remains on stable ground. USDC has now regained its peg, sparking optimism in investors plugging cash into the digital asset space. Is the money printer triggering an early bull run soon?
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#Bitcoin #ethereum #Crypto
~Mass Bank Bailouts = Early Crypto Bull Run? 💰 Bitcoin + Ethereum Rally! 🔥🚀~
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The global financial crisis that occurred a decade ago had a profound impact on the world’s economies. As a result, many countries had to resort to massive bailouts for their banks to ensure that their financial systems remained intact. One of the most significant bailouts was carried out by the US government, which provided financial aid to several large banks in the country.
However, the impact of the bailout was not limited to the traditional finance markets. In fact, it is believed that the government’s intervention in the banking sector led to the rise of the cryptocurrency market. This is because people started losing faith in the traditional banking system, which turned them towards alternative forms of financing, such as cryptocurrencies.
The first cryptocurrency, Bitcoin, was created just a year before the global financial crisis. However, it really gained popularity in 2010, after the bailout of the banks. As people started losing faith in the traditional banking system, they started looking for alternative methods of finance. Bitcoin became one such alternative, as it offered a decentralized system of payments that did not require the intervention of governments or banks.
The early adopters of Bitcoin were mainly tech enthusiasts who were looking for a new way to transact online. However, as time passed, more and more people started investing in cryptocurrencies. This led to a massive rise in the value of Bitcoin, which went from being worth less than a dollar to being worth thousands of dollars within a few years.
One of the other major cryptocurrencies that gained popularity after the bank bailout was Ethereum. Ethereum is a blockchain-based platform that enables the development of decentralized applications. It was created in 2015, and quickly gained attention due to its potential to disrupt the traditional finance sector.
Today, the rise of cryptocurrencies like Bitcoin and Ethereum can be attributed in part to the global financial crisis and the mass bank bailouts that followed. People started losing faith in traditional banking, and turned to alternative forms of finance in search of a more secure and decentralized system.
In conclusion, it is clear that the global financial crisis and the mass bank bailouts of 2008 had a profound impact on the world’s economy. However, it also led to the rise of Bitcoin and Ethereum, and consequently paved the way for the early crypto bull run. As more and more people turn towards cryptocurrencies, it will be interesting to see how they continue to disrupt the traditional finance sector.
Bitcoin is not 16k
Crypto is not cryptocurrency bother are different crypto is not the market. crypto is done crypto they went bank rupt idiots remember. On oct 31 crypto sdk was released. As owner of both cryptocurrency market and crypto sdk bail outs are denied period fed go fuck your self
Get Aldo on. Let's see him call 90 percent down on most coins
THIS IS A HEAD FAKE.
Use a core crypto for your stable coin. XRP, ADA, Coin that hardly fluctuates…
Cramer did not go to college to get stupid – getting stupid is some thing he has had to work hard at his entire life
You should have Randy from Crypto banter On your show again.
Exactly. Corporate greed is price gouging, disguised as inflation.
Poor JP Morgan. Jim Cramer just gave them the kiss of death now. He did the same thing to SVB not long ago. Then there's his hilarious, "I didn't go to college to get stupid." comment. No Jim, you didn't. You were already that way. College can't fix that.
Cramer is a puppet now. He'll change his crypto tune when he doesn't work for a major network whom are likely forcing his narrative. I can see it and so can everyone else…
Why didn’t you bring on Evan?
Tried to dump usdc on Saturday on Coinbase. Couldn't.. converted to BTC today, all-be-it, with BTC much higher..
Much appreciated Paul and team!
Polygon, Render ,For the longrun
Thank you, Paul! Appreciate the sentiment analysis – shout out to Ada, IMX, Matic!! Maybe revisit Bloktopia in a couple months as things heat up!
Bitcoin prices are unstable because fiat is debt-fueled and unstable. Bitcoin is a mirror to everything.
Make America the Land of Hard Money again
How can you have bull run when there is no on off ramp fiat in the US due to closure of crypto banks? Doesnt make sense at all.
1. There are not 21 million BTC in circulation, around half are no longer circulating, most of which are lost forever due to dead holders and dead wallets and drives that can no longer be accessed
2. The idiot founder doomed his pretend currency by withholding (or losing) the first 1 million BTC he created. Currencies are meant to be circulated, withholding large portions of it ensures it will not be adopted, there will not be enough of it to supply a small local economy (people, businesses, and governments), let alone the grand idea of the global population and economy.
3. BTC has been around for a decade and a half. There are fewer venders accepting it now than during the boom/experimenting phase between 2014 and 2018. No one uses BTC to buy, or accepts it as payment for goods and services. In order for a cryptocurrency to rival a fiat currency, it needs adoption from both the buyers and vendors/merchants. Especially vendors, because they set the price of the good to be purchased. They also pay their employees after the goods have been purchased. I don't know of any business, big or small, who pays their employees in BTC.
4. In order for a cryptocurrency to rival a fiat, it needs to not be measured in the fiat currency. No one says that they have a net worth of 5 BTC. BTC is only ever measured by how many dollars it is valued at. This is because, despite BTC being falsely claimed as cheap to use in transaction fees, once the BTC goes from one user, to another in a different country, that second person, if they have any desire to buy something other than drugs or a crappy Tesla, has to find a way sell if for real fiat currency. So that fiat currency will always be the measuring stick, and the final point of exchange.
5. Blockchain is an over-encumbered, overpowered system that imperfectly tries to be perfect. It is something that I imagine would be thought of as a first step in a system, rather than the final solution of the system. Blockchain is the idealist dream before the realization sets in that the more economical method is to be realistic, and have hundreds of proof readers, than needing millions of proof readers. Trusted 3rd parties are a godsend to two parties transactions of every nature. Only people who are trying to hide something or defraud another, should hate trusted third-parties.
6. If BTC, is such a good store of value, then its value should rarely ever decline since it becomes more scarce every day with the previously mentioned death of hard/cold devices as well as the completely mortal cryptoholders. Yet, the price has fallen each month for about two years now. It is because crypto has not fulfilled its first and primary stated purpose of being a usable currency. Gold and silver have always been horrible as currencies, but they at least have a secondary function as an accessory to wear, and an important component in electronic devices. With currency being removed from the equation of BTC, it lacks a reason for its existence, other than to try to sell to the greater fool. But eventually so many fools will be burned by it, that it will become harder and harder to offload.
7. The cost of mining BTC is higher than the current value of around 20k dollars. If mining a coin costs more than the miner can sell it for, then the miners will not bother to support the system it props up. And once the final BTC is mined, the miner would need people to actually use the BTC in transactions to bother supporting the system any further. But as I have stated, no one use BTC as a currency so there are very few dollars of fees to collect.
8. BTC is only somewhat fast and somewhat cheap when no one uses it as a currency. Visa, Mastercard, and Amex all process millions more transactions per day, which are faster and cheaper than BTC. If BTC tries to do more transactions, its system will slow to a crawl. The few people who do try to use BTC in transactions, have always had to go out of their way to do so, in a pointless waste of time.
9. Fiat currencies are more flexible than cryptocurrencies. You can use a dollar in physical transaction and a digital transaction. So why would most consumers choose the currency that can only accomplish half of the fiat currency?
10. BTC is no alternative for the unbanked, since they are the least likely to have reliable electricity, let alone reliable internet, which is necessary if you want to use it, and even more necessary if a poor 3rd world farmer was unlucky enough to get conned into buying some, only to see the price tanking while he tries to access his account. BTC has made millions more poorer than in it ever made rich, and it is technology that will contribute to the greatest destruction of actual wealth in the history of man.
May we just “click” the like button or do we have to “smash” it? Silly jargon tends to delegitimize serious content.
Paid puppets are trying to down play crypto because they can not and will not stop it
Converted USDT to USDC this weekend
My life savings has always been all in since 2020.. Just keep DCA'n every pay instead of save fiat. never had any liquid to bother with stable coins and don't they just defeat the purpose of BTC?
SPB, SBF what’s the f-ing difference?
What is dgn scenario ? I feel that too many acronyms affect understanding of content
Then go strong in Btc and eth for the next correction
No still holding USDT
Obviously rest this out, stables will be bailed out as banks will
Rest this out
James from Invest Answers is alpha. Have him on ur show.
hi Paul, great content as usual. can you please consider extending the 23SPRING50 code for a couple of days? thank you