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The bitcoin’s price increased on Monday by 50 percent at $28,378.35 since the bank crashes in the U.S. ten days ago, according to Cointelegraph’s MarketPro data.
The crypto currency’s profits started increasing shortly after the banks’ crisis began in the U.S. on the 10th of March, reaching a market value of $1.2 trillion on Monday morning.
“Its stunning rally is the result of the banking crisis, and as the interest rate markets prices in rate cuts in the second half of 2023,” said Tony Sycamore the analyst at IG markets.
Market players are expecting the bitcoin to benefit from central bank efforts in supporting liquidity in the global financial system.
