Bitcoin Rose above Today. The threat of a crisis hitting the United States economy was not enough to shake the prices of a number of crypto assets including Bitcoin over the past few days. In the last seven days the price of Bitcoin has shot up by 23.33 percent until the price flew to around 27,722 US dollars, on Monday trading (20/3/2023).
Not only Bitcoin, a number of other top crypto assets also experienced a sharp increase at the start of the market opening this morning. Like Ethereum which jumped by 10.47 percent to 1,779 US dollars.
Followed by BNB which recorded a jump in value of 16.01 percent to a price range of US$337.83. Then there was XRP which rose 4.51 percent to $0.3907, Cardano which jumped around 2.04 percent to $0.3453.
Bitcoin Rose above Today. As well as Polygon, which rose 0.73 percent to a price of 1.16 US dollars per coin and Dogecoin, whose price shot up to 0.07533 US dollars after being bullish 5.59 percent during the week.
The quite positive movement in crypto prices occurred due to the response of investors to the firm stance of the Federal Reserve, the US Treasury Department, and the Federal Deposit Insurance Corporation (FDIC) in overcoming the capital crisis experienced by Silicon Valley Bank (SVB).
The three most important financial officials in the US promised to guarantee all customer funds so that they can return safely starting this week. By issuing funds worth 300 billion US dollars to support several US banks that are being hit by bankruptcy.
Not only that, The FED is also providing additional loans worth US$153 billion in the coming week through an old program called the discount window. So that banks experiencing a liquidity crisis can send bonds as collateral, rather than having to sell them. This reason has made investors start to trust cryptocurrency again as the safest and most promising investment asset.