NEW 2023 BITCOIN HIGH [Details]
Hello welcome this is blockchain Bloom the blockchain educator metal opinion in today’s video I’m going to talk about that the Bitcoin has reached yesterday it’s the highest price in this year 2023 it went over 26 500 US dollar after the new CPI data came out uh that’s the
First thing I want to talk about then let’s talk about Signature Bank because why was it really shut down many people asking now the question and then we have Circle which is able to access its 3.3 billion used USD C Reserve at Silicon Valley Bank so actually uh Happy Days
For them at least right now so guys all this in today’s video and don’t forget every single day I’m making couple of new videos here on this channel blockchain Bloom to keep you up to date in crypto in blockchain and also in the economics so if you would like to keep
Yourself up to date simply subscribe subscribe button all and then you will get the notifications as soon as the new video is out and also hit the like button if you like this kind of content and now let’s start today’s episode foreign so what a day we had actually yesterday
A pretty amazing one we haven’t seen this for a while and uh when I share with the screen we can see that actually well now we we went back a little bit but uh 24 hours it lasted four hours now Bitcoin is up at two percent but I’m
Going to show you yesterday but I think many of you know how much it went up ethereum two percent up also so ethereum 1704 why Bitcoin 24 859 US dollar when we’re looking at the top gainers we have Singularity net 42 percent conflux 38 Stacks 36 and so on
And so forth so many many olds started to go up very nicely and well not really users not users uh losers that’s what I wanted to say um and yes the first topic I want to discuss and then we’re looking at the Candlestick chart as well that actually
Bitcoin reached this year’s uh High uh so let’s talk about that Well as you can see here now you can see it Bitcoin went all the way up yesterday after the new CPA did came out uh all the way to uh 26 553 according to um this Candlestick chart so as you can see here we have these trend lines and uh
Yeah we broke out a little bit however very important that we haven’t closed on The Daily above it or even close in a weekly above it would be uh actually very important uh to see this continue so this time again it worked as a resistance but you know first we could
See this breakout and this was a pretty uh big one uh we haven’t seen this process since the 13th of June last year since the last nine months and as you’re looking at this that looks also uh kind of bullish but of course uh that was a
Big big wick here on the top of the of the daily uh and we just closed you know where where we were before so actually we kind of stayed there but we had this very nice uh bullish momentum and uh today really so far undecided in the
Middle bit up bit down all the way now a red candle but it can turn any time to a green one actually it was green before um so yes uh bottom line is that the reason is the um CPI data so the forecast was six percent and actually it is exactly what
The forecast said and usually when it comes out what the forecast says or actually even better that makes it bullish if it’s worse than the forecast then of course that makes it uh worse today we’re waiting for something else this is actually the US producer price index also kind of important
Um now the forecast is five uh what’s it 5.4 percent the previous one was as you can see it here six percent so if it will be uh bigger than uh 5.4 that could be actually in bullish um so we will see how this will go you know the this one
Is the the as you can read here the previous price indexes measures the change in the price of goods sold by manufacturers basically so it is a leading indicator of consumers price inflation which accounts for the majority of overall inflation um and you know the the next uh
Important date is going to be actually after that the 22nd of March pretty soon as well you know and uh yeah what will Jerome Powell say on the fom meeting after the fomc meeting about the rate hikes now the majority is saying it will be 25 basis point but there are a couple
Of percentages they saying that it will be zero and you know 50 it’s out of the question which was 70 percent like a week ago that said it will be 50. so interesting changes but because of this you know banking industry problem uh we can see uh things changing they must
Change it and if they actually go down 25 basis point actually zero that will make the market also bullish uh right now the next topic is all about Signature Bank and why was it really shut down this is now the question So Signature Bank is a totally different issue that Silicon Valley Bank and uh you know many people asking now the question why was it actually shut down so um here we’re looking at that the regulator said that uh you know move had nothing to do with crypto uh because you
Know many people saying that they actually want to send this you know very strong strict message uh against crypto so this is what the regulator told decrypt in an email that the decision made over the weekend were not crypto related and that um the body has been fascinating well-regulated crypto
Activities for several years and it’s National model for regulating the space so certainly since the beginning of the year the debanking of crypto industry has been happening this one I should see you saying uh of Bank custodia um darling long and saying that I trust what uh Bernie Frank said he had no
Reason to lie and you know what what he basically said before was it in another article now um actually yes it was somewhere here and another one as well yeah you know he said that who is a former board member of signature uh said on March 13 regulator wanted to send very strong
Anti-crypto message and then we have here the crypto console for Innovation CEO I also told uh decrypt that the recent statement from the regulator seemed to amount to de facto bans on dealing with all crypto companies regardless of their business practices so the industry believes that’s a drink
So the industry believes that um you know they’re trying to blame cryptocurrencies uh as the the fault of the the banking uh system right now and that’s why they first you know uh bring down Banks which are crypto related but actually svb bank it’s it’s a different thing
Because there’s many startups but anyway and with that they would like to show that actually crypto was the one which started this whole kind of banking industry going down and even that The Regulators are now saying that no no no it’s not what this is all about uh it
Really really actually looks like and um you know also Signature Bank investigated for money laundering prior to uh demise so uh here they said the pro crypto Bank was reported under dual investigation to uncover if it was taking uh proactive measures to stop money laundering um so it looks like they were investigating
Already there is maybe the SEC we’re already also investigating and then um you know we had the the New York State Regulators to close the bank basically during the weekend however they’re saying it it’s not because of crypto but we do know that it’s it’s uh many many crypto companies had a working
Business relationship with them and um yes so you decide let me in the comment section what do you think about it uh what is going on here and then actually uh good news for usdc stablecoin at least for now that they can access their uh you know backup at Silicon Valley Bank foreign Good news for a circle because they are able to access their 3.3 billion US dollar of usdc Reserve at Silicon Valley Bank uh circus CEO and co-founder Jeremy alert says that since March 13th the stable condition has been able to access the 3.3 billion of funds held with the
Collapse Bank Silicon Valley Bank so you know the message was that uh nobody should worry because everybody will every depositor will access their deposit and now they are saying officially that yes it has happened um however you know even that the the peg went back to one dollar the market
Cap of usdc dropped since the 11th of March nearly 10 because people are worrying about it and of course it’s very difficult to push back the the market cap in these kind of conditions but anyway bottom line is that the peg is back and this is actually important however you know centralized things
Stable coins you know it’s just it’s just not Bitcoin to be honest with you but that’s just maybe my opinion but I’m I I’m pretty sure that many people uh cryptos people believe and and share it um right okay guys that’s it for today don’t forget every single day I bring
You a couple of fresh cryptocurrency and blockchain related videos here on blockchain Bloom so if you’re interested in this topic you would like to keep yourself up to date very simple subscribe button all and then you will get the notifications as soon as a new
Video is out hit the like button if you like this kind of content see you tomorrow have a good one bye
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In today’s video:
01:24 Cryptocurrency market overview
02:20 New 2023 bitcoin high
05:55 Why was Signature Bank really shut down?
09:44 $3.3B of USDC reserves are accessible
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