Bitcoin Soars Past $22K As Silicon Valley Bank Holders Are Rescued
Oh boy, what’s going on here! Who knew Silicon Valley Bank depositors could be rescued by the good old Bitcoin? That’s exactly what happened when the crypto just so happened to fly past the $22,000 mark.
Technical Analysis of Bitcoin and Ethereum
The technical analysis of Bitcoin and Ethereum has become quite interesting in the last few weeks. Ethereum has made decent gains and has been consolidating at the $600 level. The world’s biggest cryptocurrency, Bitcoin, on the other hand, has been on a rollercoaster ride. After crossing the all-time high of $19,783, the volatile crypto topped $22,000 within no time.
Silicon Valley Bank Depositors Rejoice!
So now, Silicon Valley Bank depositors who had nearly despaired of ever recovering their funds, have seen the Crypto gods smiling down upon them. Many of them, who had staked everything they had in cryptocurrencies, have now been rescued by an ‘invisible’ hand.
Foolish Bankers Being Fined?
It looks like the traders, who put their money in the bank, long before Bitcoin and Ethereum happened, have been paid off as the price of Bitcoin and Ethereum soared in the past week. Rumor has it that the foolish bankers who put the money in the bank are now facing hefty fines due to their miscalculation.
Conclusion
In conclusion, one can assume that Bitcoin and Ethereum have done us all a bit of a favour. The blockchain and the crypto market, in general, have done depositors, who had their money stuck in banks, a great deal of good. With Bitcoin and Ethereum, depositors are now all smiles as they can get their money out of the bank and can rest easy!
