Woke up that night to see the charts look like a girl who became period for the first time on the public bus. Unbelievable seeing Bitcoin below $20,000 USD, but that's the reality contradicting the January pump.

Hold there, at the moment the charts are facing some sort of uncertainty but enthusiasts believe the future of Cryptocurrencies is bright. And to every seller there is a buyer. Whatever, let us explore the major scenarios impacting the market.

In no particular order, the banking system and the economic situation have hit the crypto market once again. 

• Silver Gate Bank bankruptcy hijacked the crypto market (link)
• US government passed a 30% tax on electricity for crypto mining companies (link)
• New York state anttorney sues kucoin (link)
• Hubio token flash crash (link)
• USA capital gains tax between 20% to 40%  (link)
• Crypto VCs urge portfolio companies to pull funds from Silicon Vally Bank (link) 
• Bakkt's Q4 earnings dragged down by goodwill impairment charge of $272 million (link)

And also some US economic indicators effect the crypto market as some investors prefer to hoard cash as the banking system shrinks.

Economic Update:

1. SVB collapse marks the 2nd largest bank failure in U.S. history [source]

2. Total U.S. credit card debt set to cross $1 trillion with interest rates at a record 25% [source]

3. Interest rates are rising at their fastest pace in history [source]

4. Mortgage demand at a 30-year low with home prices falling at their fastest since 2011[source]

5. Average new car payment is now above $800/month [source]

6. Total U.S. mortgage debt now double the 2006 peak [source]

7. 36% of Americans have more credit card debt than saving [source]

8. Average American spending a record 46% of their income on house payments [source]

9. U.S. government debt on track to hit $50 trillion in 10 years [source]

10. Interest on U.S. debt expected to hit $1 trillion by 2033 [source]

Meanwhile, crisis hit regions of the world like the Russian Ukrainian war and the Turkish earthquake create high dependency of financial aid.

None the less, be save through out this month, because, Mt. Gox distributes costumers funds since the exchange was closed. And also, an address related with the US government transfered 49,000 BTC siezed from the silk road  hacker  could have mount bearish momentum as a stash of 9826 BTC was transferred to coinbase later on.

It is of your best interest to use this information while not relying on it as an endorsement.

What do you think will be the next market move?

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