Due to the insolvency of several U.S. banks and the ongoing liquidity problems of supposedly over 186 US banks, as well as the acquisition of Credit Suisse by UBS Bank, Bitcoin and crypto are more bullish than ever. On Sunday, the Bitcoin price peaked at over $28,400.
About 15 years after the bankruptcy of major US bank Lehman Brothers and the Great Financial Crisis, Satoshi Nakamoto’s vision is increasingly coming true. As the US banking system faces another major crisis and bailouts, investors are currently fleeing into Bitcoin.
This is literally what was inscribed in the genesis #Bitcoin block.
It was designed for this environment. pic.twitter.com/xiTV4Cx0jC
— _Checkɱate (@_Checkmatey_) March 17, 2023
Nevertheless, investors in the Bitcoin and crypto space should continue to keep an eye on economic and financial data this week. The all-defining event will be the FOMC meeting and the interest rate decision by the US Federal Reserve Bank (Fed). In addition to the monetary policy decision, the Fed will also publish its updated projections.
Besides that, there are rather minor data points coming up…