.jpmorgan says the U.S. banking crisis and the intense shift in bank deposits to money market funds is viewed by crypto supporters as a vindication of the crypto ecosystem. By willcanny99.
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.Despite recent regulatory headwinds, the cryptocurrency market has rallied strongly over the last month, with bitcoin outperforming, JPMorgan said in a research report last week
.The bank notes that bitcoin, the largest cryptocurrency by market cap, gained at the same time as gold as both are viewed as hedges to a “catastrophic scenario.”also “exposed the weaknesses of the traditional financial system given bank’s maturity mismatch is susceptible to bank runs,” analysts led by Nikolaos Panigirtzoglou wrote.
“The U.S. banking crisis and the intense shift in U.S. bank deposits to U.S. money market funds is viewed by crypto supporters as a vindication of the crypto ecosystem,” the report said., which some argue will drive up transaction fees and increase miners’s revenues, the note said. JPMorgan says the most important support for bitcoin has come from rising investor focus about next year’sThis would mechanically double bitcoin’s production cost to around $40,000, creating a positive psychological effect,” because historically, BTC’s production cost has acted as an effective lower boundary to its price, the report added.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
UBS says gains will be limited for this banking stock after recent crisisUBS is downgrading this regional bank over 'structural uncertainties' after the broader liquidity crisis.
Leer más »
Consumers see credit getting tighter in March, amid worries of banking crisisCredit standards would be tightening up amid banking sector worries, experts have said.
Leer más »
IMF: Banking crisis boosts risks and dims outlook for world economy | CNN BusinessAt the start of the year, economists and corporate leaders expressed optimism that global economic growth might not slow down as much as they had feared. Positive developments included China's reopening, signs of resilience in Europe and falling energy prices.
Leer más »
First-Quarter Performance Recap: CoinDesk Market Index Up 58%, BTC Gains Amid Banking CrisisBitcoin posted its best quarterly performance in over two years, gaining 68%. The CoinDesk Market Index – which takes in more than 90% of the crypto market capitalization – was up 58%, led by significant gains for Ethereum and Cardano. by Tgroth8
Leer más »
Banking turmoil was not a crisis but 'the downside risks are real,' IIF boss warnsThe banking sector turmoil that led to the collapse of several lenders was not a systemic crisis and has now subsided, according to IIF CEO Tim Adams.
Leer más »
US Treasury sees continued global growth despite strains in banking sectorThe U.S. banking system remains strong and resilient, but American officials will continue working with foreign counterparts to bolster financial resilience after recent bank failures, U.S. Treasury Undersecretary Jay Shambaugh said on Monday.
Leer más »