Bitcoin seesawed below $28K on Monday as investors awaited the next interest rate decision by the Federal Reserve and continued to monitor the global banking situation. JPRubin23 reports
with five other major central banks to ensure a steady flow of the U.S. dollar, a dominant reserve currency, in the global financial system.
Rust added:"The bank runs we are seeing are also making it difficult to access gold, while fear of inflation and hyperinflation in some countries are all driving a flight to BTC." "That's probably most likely," Tom Shaughnessy, co-founder of crypto research platform Delphi Digital, told CoinDesk TV's"First Mover program."
Delphi Digital's Shaughnessy said that the driving force behind the current bitcoin surge and its potential sustainability were difficult to determine, although he noted that"this is the first time in history that we have a global banking crisis, and crypto validated to a degree and well known that people can now seek an alternative and go into crypto."
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