Bitcoin gains amid growing investor concern over global banking crisis
Publishing timestamp: 2023-03-16 16:26:26
Summary
The price of bitcoin and ether have increased after a rally in cryptocurrencies this week, as investors assess weaknesses in the banking system in the US and Europe. The recent failures of banks such as Credit Suisse, Silicon Valley Bank, and Signature Bank have contributed to a narrative shift for bitcoin as a valuable alternative asset. However, bitcoin's price is still influenced by inflation and Federal Reserve rate hikes.
Sentiment: NEUTRAL
Tickers: SBNY, CSG.N-CH, ETH.CM=, BTC.CM=,
Keywords: technology, business news, investment strategy, markets, bitcoin/usd coin metrics, credit suisse group ag, signature bank, united states, cryptocurrency, ethereum/usd coin metrics,
Source: https://www.cnbc.com/2023/03/16/bitcoin-posts-gain-in-midst-of-mounting-global-banking-crisis-.html