It seems that the banking crisis in the US is only drawing more and more investors to Bitcoin. Check out the latest reports revealed by InvestAnswers.
More investors are pouring money into Bitcoin
A widely followed crypto strategist says the US banking crisis is one of the best advertisements for traders interested in Bitcoin (BTC).
In a new interview on Crypto Banter, the anonymous host of InvestAnswers said that he believes people are investing fiat currencies in Bitcoin over fears of the banking fallout.
He says those who lived through the Great Recession of 2008, which was triggered by a banking crisis, are viewing Bitcoin as a safer place to invest their wealth.
“I think what’s happening is you’ve got people coming into Bitcoin. All they know is Bitcoin. They don’t know crypto. But they’re afraid for their fiat, therefore they’re buying Bitcoin first. That’s what you’re seeing here. You’ve got people that have been in Bitcoin for the longest time. If they were too young to live through the great financial crisis in 2008-2009, they don’t know what just happened.”
He continued and said the following:
“The people that have been around and know what Bitcoin is about just had the best advertisement since the great financial crisis of 2008. That’s my take. And I think people are flooding in. I had calls yesterday reflecting exactly that, new time buyers. And it’s scarce and there’s not much on the exchanges.”
Bullish news about ETH is also out
According to the latest reports, the Real Vision CEO Raoul Pal says he is bullish on the leading smart contract platform Ethereum (ETH) after a month-long market correction.
The former Goldman Sachs executive says in a new strategy session that ETH could be setting the stage for a major run to the upside.
“I’m really bullish. I look at the chart. The chart looks great. It feels like we’ve just had this nice kind of month-long correction. I am looking at the ETH [chart], but you can use any of the charts. I don’t know what it is, but there’s one thing that’s just going to trigger this.”
