As Bitcoin hits its highest level in nine months, many are wondering just how high the cryptocurrency can go. With a market cap of over $1 trillion and a surge in demand, as investors seek a safe haven amid economic uncertainty, Bitcoin's price has skyrocketed in recent months.
This has left many wondering whether the cryptocurrency is in the midst of a sustained bull run or whether it is due for a correction.
Last week, the abrupt downfall of three banks, namely Silvergate, Silicon Valley Bank (SVB), and Signature Bank, highlighted the fragility of the conventional banking sector.
Analysts have identified unfavorable market conditions and inadequate risk management as major contributors to the collapse of SVB and Silvergate.The downfall of SVB had far-reaching implications for the global banking industry.Read more on cryptonews.com