Banks are crashing & Bitcoin is rising

Hello Steemians!

If you have bought some bitcoins doing dollar cost average, you are indeed in a happy mode these days. Obviously, it’s because bitcoin is rising, rising and rising. Since it has broken the major 25k resistance level, now the crypto market seems to be very bullish.

Source

I think steem coin also gain some momentum in the coming days. In my opinion, coins like steem need a highly bullish market condition to gain some attention. It’s because of the low market cap and the risk of the asset.

When steem is dumping, I also bought it T 0.75$, 0.5$, 0.4$, 0.3$, 0.2$ and 0.15$ levels. For me, it was okay because I risk the amount that I can tolerate. So no worries. I powered up all the coins bought from the external market. Now I think the time is coming to sell some of those to take some profits. Waiting for these coins to go to the moon is not an ideal one in my experience.

One reason bitcoin started to rise is that some of the banks in the united states began to fail. So the crypto community started to promote bitcoin while they pumping it heavily. So I think most people got into that. That’s why it’s consolidating and rising.

Bitcoin was introduced as a solution to the current banking system. It seems like it’s working as it should. I heard that US banks have a loophole of 620 billion dollars. The government bailed out 3 of banks as today. I have no idea how far this will extend. If this becomes a reason for a huge bank run, at that point I think bitcoin also goes down.

If the feds stop rising interest rates in the coming week, I hope bitcoin will bottom up this very long bear market.

Thank you for reading!