Bitcoin hit a new nine-month high earlier today as a result of the latest events surrounding the U.S. banking crisis, which have given a boost to the crypto market.
According to coinmarketcap, Bitcoin registered a high of $27,002 before settling on the current price of $26,420 which is an increase of 6.37% so far today.Considering the recent uptrend in Bitcoin due to the U.S.
banking crisis, what are some of the best cryptos to buy today?The Federal Reserve has been actively lending money to banks in response to the U.S.
banking crisis. The Fed allocated $143 billion to holding companies for failed banks and lent $148 billion through the "discount window" program.Additionally, it inaugurated the Bank Term Funding Program, which has so far lent $11.9 billion to help banks raise funds to meet depositors' needs.Economist Peter Schiff speculates that these bank bailouts are essentially quantitative easing (QE) making a comeback and that it will undo the four months of quantitative tightening (QT).Read more on cryptonews.com