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Why the price of bitcoin and ethereum is surging after SVB collapse

From news.com.au

The price of bitcoin has suddenly surged as investors, nervous about the banking crisis, stash their money in crypto. About $100 billion has been added to the crypto market in the past week as bitcoin, ethereum and altcoins like solana and cardano rocket higher. The world’s most popular digital currency, bitcoin, was selling for $A42,060 ($US28,204) this morning, up 14 per cent for the week. It’s in the green by a massive 72.16 per cent so far this year. On the back of the surge, Binance CEO Changpeng ‘CZ’ Zhao wrote on Twitter: “bitcoin almost died, but...” It marks more volatility in the crypto sphere after massive ... (full story)

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  • Category: Fundamental Analysis