Quote from: ololajulo on March 31, 2023, 04:37:19 PM

Quote from: FireDAO CY on March 16, 2023, 01:34:52 AM

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Bitcoin's purchase as a result of failing banks is intriguing, but how much does the whole bitcoin marketcap cost? Also, why do you think a massive purchase wouldn't have pushed the coin above its previous highs? Bank failures are widespread across all continents, and the government was unable to protect them. They are trying to get back funds from the inflated economies. I like the timing

Some of the banks periodically go bankrupt in difficult and troubled times. It was before, and it will be later. But we cannot assume that the banking system will collapse because of this. It is very powerful because it is under the auspices of the state.

As for cryptocurrencies, many believed that the negative effects of the coronavirus would lead to a sharp increase in people's interest in cryptocurrencies and it would quickly begin to grow in value. But that did not happen. The cryptocurrency market is still in decline for almost two years now. People are showing interest in cryptocurrencies, but this is not happening as quickly as we would like.