Some scenarios why Crypto is going up in recent days

By diamondstonk | AnythingCrypto | 20 Mar 2023

After UBS announcement of Credit Suisse stock market seems to be stable for Monday. In the meantime, the crypto market has gone up quick. There are many views on why crypto has risen for a recent couple days of worries in traditional banking system:


1. One scenario is that people who worried about collapse of the traditional banking system moved some capital to crypto wallets so that they don't lose timely access to their money.

2. Some investors might use crypto as good hedge vehicle since considering that crypto like Bitcoin is know to be less correlated to the traditional asset classes.

3. Another view is that the regulators focus will be moved from Crypto industry to the banks giving crypto more time of delay.

4. It may be a part of big bull cycle showing recovery of Crypto's price since early 2023. 


Whatever the reason was(or maybe all of these contributed?) it's great to see recovery of the value of cryptocurrencies. I hope 2023 be another record high year.


Photo by Karolina Grabowska:


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