March 24, 2023
Crypto Market Update 24-03-23
Welcome to our recap, get up to speed on the relevant crypto events of the week! 📰😎
Our curious fact first:
Did you know that tree branches grow in a spiral? Don’t believe it? Look at a tree near you and scan it from the bottom up, you’ll see that you will go around the core when you get to the next branch above the previous one. In 2011, A 13-year-old even went to the extent of studying the Fibonacci sequence of the branches and why trees adopt different ratios to improve their efficiency. Fascinating isn’t it ? 🤯🤯
Now onto this week’s updates:
🔴 US entities keep the pressure on. 😖
All financial systems are showing cracks these days (Banks are falling out) and yet the Central Bank in the United States (Fed) continues pressuring by raising interest rates, which means exacerbating the problem on Banks… and in you! Also it’s “cousin” regulatory agency is going after big players in the crypto industry, again. This time Coinbase faces legal action for potentially offering financial products that should be registered according to traditional laws, but are not because they’re crypto…and crypto doesn’t have a clear regulation yet.. All this is leading very relevant key opinion leaders, such as BlackRock CEO Larry Fink, to state “US is lagging behind in crypto developments”. 🤐
🟡 Everyone is pointing fingers at each other… 😐
“Bitcoin Is a Clear Winner of the U.S. Banking Crisis” (George Kaloudis) we hear from one side, “Bitcoin the 'Very Definition of a Bubble” (Credit Suisse CEO Tidjane Thiam) we hear from another. What we do know is that the banking systems are not failing because of crypto, but because of themselves and the way they operate, which some crypto projects are trying to solve actually… 🤔 Proof of that is also a surge interest in more transparent solutions (sounds like Lympid here 😉), these platforms allow you to see at all times and with complete transparency all your finances.
🟢 “Bitcoin to $1M in 90 days” wait, what!? 📈
This completely outrageous take was proposed by Balaji, the former Coinbase CTO. Due to the problems traditional banking is having and in conjunction with the risks of hyperinflation in the US, he is predicting a massive demand for Bitcoin. He even stretched his belief into a million dollar bet! What is going on here? 😅 Also, venture capitalist Tim Draper thinks cryptocurrencies should grow 10x by the end of 2023, suggesting $250,000 for each Bitcoin by then. What do they know that we don’t…? 🧐🧐
Very mixed feelings this week, crypto markets maintain their volatility fame but we keep focused on building the best platform possible for our users! 😉 Stick around, come engage with us and take this time of uncertainties to learn about this space every day a bit more.
That’s it for this week, have a great weekend! 😎
