• Bitcoin billionaires are back as the world’s number one digital currency by market cap is on the verge of striking $30K per unit.
• Investors fears that keeping money in banks can be risky are coming to surface due to banking problems in US and Europe.
• Crypto bulls such as Mike Novogratz, Michael Saylor and Tyler Winklevoss expressed excitement for the current bull run.
Bitcoin Billionaires Are Making a Serious Return to Form
The world’s number one digital currency by market cap, Bitcoin, is on the verge of striking $30K per unit and it has largely benefited from the recent banking crisis that’s occurred. Over the course of just seven days in late March, bitcoin rose by close to 40 percent and is now at a nine-month high. This has caused crypto assets such as Ethereum (ETH) – the second largest crypto in the world – to swell to about $1,836 per unit which is roughly $100 more than its price position of about a week prior.
Fear of Keeping Money in Banks
Alex Kuptsikevich – a senior market analyst at FX Pro – commented that “the worse the banks are doing, the better cryptocurrency is doing” highlighting how investors‘ fears that keeping money in banks can be risky are coming to surface due to banking problems in US and Europe.
Excitement From Crypto Bulls
Crypto bulls such as Mike Novogratz, Michael Saylor and Tyler Winklevoss have all expressed their enthusiasm for this bull run with Novogratz stating “This is our time!! Let’s go team $BTC!! Let’s go $ETH!! The decentralized revolution is happening“. Meanwhile Saylor wrote „A timely review explaining why #bitcoin is superior to conventional banks, fiat currencies, staking networks stable coins and crypto exchanges; how $BTC helps defend against asset seizures, inflation fraud bank failure and counterparty risk“. Lastly Winklevoss stated „$30K bitcoin by the end of weekend? The US banking system is a modern-day caste system“.
Will Bitcoin Keep Spiking?
Given these positive sentiments from key figures within the crypto space – it will be interesting to see if Bitcoin continues its upward trajectory or falls under selling pressure now that it’s reached this point.
Conclusion
It’s clear that times have changed since 2018 when we saw some of these same people hit hard during bear markets. Now however we’re seeing them back with confidence expecting further gains for both BTC and ETH – two cryptocurrencies standouts amongst many others who have done well recently too!
