The bitcoin continued this Tuesday with its uptrend that began over the weekend, in the midst of a crisis of uncertainty in the United States after the crash on Silicon Valley Bank.
the market of cryptocurrencies rises this Tuesday driven by the rescue of the federated reservel to the banking system of the United States and dispel the specter of a generalized financial crisis.
However, more and more experts argue that BTC is proving the concept. flight to quality: which is basically the action of investors that move their capital away from risky investments towards a more secure one.
The bitcoin appreciates after the support of the Fed to the banking sector
Faced with the crisis in US banking, the mention of action would explain the rapid rebound of the main crypto assetsbecause the specter of a generalized financial crisis has not yet fully dispersed.
Thus, the crypto market is avoiding the financial crisis unleashed in United States affecting equity markets and responds well to the inflation data for February in the North American territory.
In that context, the largest cryptocurrency by market capitalization It is trading around US$25,900 by climbing above 10% in the last 24 hours, while in the last seven days an advance of the order of 16.80% appeared. Ethereum, for its part, scales close to 7% and advances above US$1,750.
What do the experts say about the crypto rebound after the bank crash?
According to the reading of the experts, these are encouraging signs for the crypto market have to do with plans the federal reserve (Fed) in terms of monetary policy and the rise in interest rates.
Morgan Stanley analyst suggests selling any rally in US stocks
In other words, the market anticipates that with the situation that US banks are going through the intention of the Federal Reserve to continue with its policy hawkish until reaching metainflationary is in doubtwhile now the American Central will seek to avoid major turbulence and avoid new risks for the financial system.
In this sense, Goldman Sachs anticipated that the Fed will not raise rates in Marchwhile Nomura will warn that the monetary policy body could decide a cut of 25 basis points next week, going against what was the policy in this post-pandemic time.
HE
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