• The Bitcoin market has held $28k for the past few days, despite the altcoin industry remaining generally calm.
• The United States Federal government is working to prevent further bank insolvency and Bitcoin is expected to shield ordinary people from impending financial implosion.
• With the Fed meeting on Tuesday that could drive BTC higher, confidence in Bitcoin is expected to rise exponentially.
Bitcoin Market Holds Steady Despite Altcoins
The Bitcoin market has managed to remain steady at around $28k over the past few days, even as altcoin activity remained largely muted. Funds have been flowing out of Bitcoin accounts last week, but these outflows have been outweighed by inflows. This indicates that the demand for Bitcoin continues to be strong despite a global banking crisis that many analysts believe is still in its early stages.
U.S Government Working To Prevent Bank Insolvency
In order to help protect their citizens from potential financial ruin caused by banks failing, U.S officials are studying ways to let the Federal Deposit Insurance Corporation (FDIC) temporarily insure deposits beyond the current $250,000 cap on most accounts without getting approval from Congress. This action coupled with increasing confidence in Bitcoin due its ability to withstand a global recession should cause its value to rise substantially in the near future.
Analysts Anticipating Fed Meeting Could Boost BTC Value
Crypto analysts are expecting an increase in Bitcoin value when a Fed meeting takes place tomorrow which may result in tighter monetary policies being put into effect including a potential interest rate cut. This could lead to investors feeling more secure about investing in Bitcoin and pushing its value up even more than it already has done over the previous 14 days – 26% according to our latest crypto market data – where it’s stayed above 200 WMA for 3 consecutive days, indicating that any effects of a weekly death cross should soon disappear altogether.
Bitcoin Could Shield Investors From Global Recession
Bitcoin’s unique feature of having only 21 million units hard-printed no matter how much global demand increases gives investors added security since they know they can always count on this digital asset created by Satoshi Nakamoto during 2008’s financial crisis not only surviving but also thriving during times like these where other traditional assets may be volatile or unreliable due to economic downturns or bank failures such as what happened with Lehman Brothers after 158 years of being in operation before ultimately going bankrupt during 2008’s crisis as well.
Conclusion: Rising Demand for BTC Expected
With governments looking for ways to protect their citizens from financial ruin during this time of uncertainty and banks becoming increasingly vulnerable due to rising insolvencies and reduced trustworthiness of traditional institutions such as central banks like FOMC statements tomorrow, rising demand for Bitcoin looks very likely as investors continue turning away from traditional assets towards digital ones like cryptocurrency in search of greater stability and security against further economic downfall which could be imminent if nothing else is done soon enough