RateCaptain
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us
No Result
View All Result
RateCaptain
No Result
View All Result
Home Cryptocurrency

Bitcoin Drops 7% Following Silvergate Crisis.

Rate Captain by Rate Captain
March 9, 2023
in Cryptocurrency
Reading Time: 1 min read
A A
0
Bitcoin Drops 7% Following Silvergate Crisis.
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

The recent sell-off of Bitcoin since March 2 has been attributed to the Silvergate bank crisis, which saw a $1 billion loss. This bearish sentiment has caused BTCUSD to drop from its all-time high of over $60,000 in February 2021 down to around $22,266—a 7% decrease. Despite this downturn in price action, Bitcoin has managed to find support above the 23.6% Fibonacci retracement level at that same point and could continue battling resistance at higher levels such as 38.2%, the 50-day Simple Moving Average (SMA), and so on if selling pressure increases further still.

However, it is worth noting that even with these drops in prices, there are still investors who remain confident about the future prospects for cryptocurrency markets, including bitcoin, despite short-term volatility, largely because many institutional investors have entered into crypto markets recently, making them more attractive than ever before, which some analysts believe will help stabilize prices going forward and potentially lead them back up again soon after any major dips like what we’re seeing now with this sell-off post-Silver Gate Bank Crisis.

AlsoRead

Nigeria’s Leading Crypto Marketplace Patricia Suffers Severe Security Breach

Navigating Crypto Amidst Debt Ceiling Concerns and Economic Shocks.

Sneaky Tactics Unveiled: MetaMask’s Tax Scheme Shocks Anarchists and Threatens Decentralization.

Overall, while it remains unclear how long this current downward trend may last or where exactly the bottom might be found, one thing is certain: cryptocurrencies are here to stay regardless of short-term fluctuations thanks to largely institutional investor involvement, which should provide more stability going forward compared to past years when only retail traders were involved in market speculation.

Previous Post

JIFORM seeks collaboration with china to facilitates trade and migration.

Next Post

Telegram launched Power Saving Mode for IOS and android.

Related News

Nigeria’s Leading Crypto Marketplace Patricia Suffers Severe Security Breach

Nigeria’s Leading Crypto Marketplace Patricia Suffers Severe Security Breach

by Rate Captain
May 28, 2023
0

Patricia, a prominent cryptocurrency marketplace in Nigeria, has fallen victim to a significant security breach that has compromised its financial...

Crypto Markets Gain $60bn as Bitcoin Explodes Above $30,000.

Navigating Crypto Amidst Debt Ceiling Concerns and Economic Shocks.

by Rate Captain
May 26, 2023
0

The recent release of strong unemployment and GDP data in the U.S. has caught the attention of investors. However, the...

Sneaky Tactics Unveiled: MetaMask’s Tax Scheme Shocks Anarchists and Threatens Decentralization.

Sneaky Tactics Unveiled: MetaMask’s Tax Scheme Shocks Anarchists and Threatens Decentralization.

by Rate Captain
May 24, 2023
0

As the regulatory landscape tightens for digital currency and blockchain companies, recent developments have shed light on the issue of...

Binance Expands M&A Efforts, Focusing on Geographical Gaps and Customer Base.

Allegations of Fund Commingling Rock Binance: What It Means for Customers

by Rate Captain
May 24, 2023
0

In the latest investigative report by Reuters, Binance, the world's largest digital asset exchange, is accused of routinely commingling customer...

Next Post
Telegram launched Power Saving Mode for IOS and android.

Telegram launched Power Saving Mode for IOS and android.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Nigeria’s Leading Crypto Marketplace Patricia Suffers Severe Security Breach

Nigeria’s Leading Crypto Marketplace Patricia Suffers Severe Security Breach

May 28, 2023
MTN Global Graduate Program Offers Exciting Opportunities for Young African Graduates

MTN Global Graduate Program Offers Exciting Opportunities for Young African Graduates

May 28, 2023

Popular Story

  • MTN Global Graduate Program Offers Exciting Opportunities for Young African Graduates

    MTN Global Graduate Program Offers Exciting Opportunities for Young African Graduates

    0 shares
    Share 0 Tweet 0
  • Nigeria’s Leading Crypto Marketplace Patricia Suffers Severe Security Breach

    0 shares
    Share 0 Tweet 0
  • Canada Expedites Family Reunification Process, Contrasting UK’s Immigration Policy

    0 shares
    Share 0 Tweet 0
  • University of Glasgow Offers Leadership Scholarships for International Students.

    0 shares
    Share 0 Tweet 0
  • Access Bank Invites Applications for 2023 Entry Level Trainee Program in Technology

    0 shares
    Share 0 Tweet 0
RateCaptain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

?>