This could be Bitcoin's moment to shine amid rising banking concerns - Morgan Stanley
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With rising bank uncertainty, I think this benefits bitcoin a lot. In fact, that statement could be proven right now because we've broken the $26,000 barrier. Imagine, Silvergate and Silicon Valley Bank have put us into FUD yet we're reaching new highs this year. The silver lining of this happening is that this puts banks under scrutiny. I think they should provide proof of reserves that they are managing assets every year.
No one is running bitcoin and price manipulation is just a short squeeze. We know bitcoin is fixed and an absolute 21 million. No more than 21 million but I'm pretty sure we are less than 20 million in Bitcoin since lots of bitcoins are lost already. There are about 63 million USD millionaires all over the world. I'm pretty sure at least 50% of them know bitcoin and cryptocurrency already and I bet you'll agree that some of them want to take a piece of cake of that 21 million fixed and absolute number of tokens only.
Banks Failure is a win for Crypto
Bitcoin reach as high as $26,386.87 today courtesy of Binance
With more banks expected to collapse in the coming months, people are starting to realize these banks can't be fully trusted in handling their funds. It's only a matter of time before people realize they are late behind the wave and crypto will be their safe haven for their assets.
These high-risk-takers are now being exposed and we've seen how this has affected the lives of the people. We're seeing another 2008 crash antic but with the advent of cryptocurrency, people have come to the realization that these things are planned to manipulate prices and take profits.
Cryptocurrency in general is more than a decade years old, proven, and tested. As the year go by, we became more mature and more secure. We've developed technologies that by far have been helping businesses, institutions, and the masses. We are still yet to be fully ripe and when that time comes, everyone who uses crypto and fiat money will be abolished.
What's Next?
Could we reach $30,00 this month? What are your thoughts?