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Credit Suisse going down. What does this mean for bitcoin?

Credit Suisse going down. What does this mean for bitcoin?

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Written by BTC India

30 Comments

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  1. Imo Bitcoin is doing its own thing as it always has done, it got very oversold at the end of the year and went below all of it major moving averages that have previously been a good time to buy. Now the market is correcting itself and eventually we will become majorly overbought again with some volatility in between.

  2. March 14 (Reuters) – Moody’s Investors Service on Tuesday revised its outlook on the U.S. banking system to “negative” from “stable”, citing heightened risks for the sector after the rapid unraveling of SVB Financial Group (SIVB.O) fueled fears of contagion.

  3. I have to admit I didn’t really buy into the whole bitcoin thing when I first bought some in 2013. However as time goes by I see it’s value increasing in more than just monetary value. Bitcoin is the future. And more and more people are coming.

  4. It’s not going down, it’s obviously too big to fail. If it went down, 10 banks would follow next week only. As for bitcoin, it doesn’t care, 1 BTC remains 1 BTC afaik

  5. One system has:

    * banks which fail and are only open for limited hours
    * governments which print money out of thin air and are rapidly accelerating the pace at which they do so, which devalues their currencies over time.
    * governments which steal money from you to bail out said banks

    Another system has:

    * a truly fixed supply which governments can’t inflate, making it more valuable over time compared to the other system
    * always open hours
    * the inability to take your money from you

    Where do you think people will put their money if they know the above, which is only a partial list?

  6. Hoping sovereign nations start to realize that holding massive amounts of US currency is not a diversified and optimal plan going forward. They start to buy BTC as a “just in case” and then they start to buy BTC as a form of “better currency”.

  7. It’s becoming more and more clear that Bitcoin need not *gain* more market share (as a % of the total), need not gain mass adoption, and only needs to remain where it is today to see *MASSIVE* long term appreciation of the BTC given the fiat system is addicted to printing money, bailouts, and QE.

    The monetary policy of Bitcoin all but guarantees it, and yes, the Bitcoin payment network provides a service of extraordinary value to many in the world and I can’t see any competition there any time soon either.

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