Investor Balaji Srinivasan has warned the latest banking crisis could spark hyperinflation in the U.S.—and advised people to “buy bitcoin now and get your coins off exchanges”…
As crisis stalks the traditional world of stocks and bonds, bitcoin is suddenly looking like a safe haven.
The central bank confirmed most expectations with its decision to raise the interest rate by 25 basis points. Other major cryptos were largely in the red.
The unprofitable days were between Dec. 28, 2022, and June 12, 2022, when Bitcoin was priced above the $26,246.58 and $28,344.5 range.
Bitcoin fell slightly on Wednesday as investors weighed the latest policy decision from the Federal Reserve.
The leading cryptocurrency is trading at $28,063 on March 19, a 2.4% increase in the past 24 hours.
Analysts suggest that the current Bitcoin rally is driven mainly by retail spot traders, while institutions are net sellers.
The U.S. central bank is widely expected to boost the rate 25 basis points.
Traders are pouring into bitcoin because they expect fresh waves of central bank liquidity, market watchers say.
Bitcoin and gold hit new 2023 highs after five of the largest central banks pledge to increase U.S. dollar liquidity in the global banking system.