Bitcoin (BTC) Nears $27,000
• Bitcoin (BTC) has seen huge growth in the last seven days, currently hovering around the $27,000 mark.
• Some are calling for a new crypto bull market due to issues with the banking system in the U.S. and investors panicking.
• BTC is up 6.5% in the past 24 hours and a staggering 30% in the past week, with its market capitalization at $513 billion and total cryptocurrency market cap at $1.17 trillion.
Banking System Issues
The banking system in the United States seems to be on the verge of collapsing as multiple banks announce liquidity issues and other concerns, despite help from the Federal Reserve. Investors are panicking as banking stocks plunge, driving Bitcoin and other cryptocurrencies up significantly and leading some to call it a new bull market beginning.
Bitcoin Price Growth
Bitcoin (BTC) has grown tremendously over the past week, trading at $26,574 and up 6.5% in 24 hours and 30% in 7 days. The last time BTC traded at $27,000 was June last year when it dropped from $31,000 to $17,000 after the Terra-Luna ecosystem imploded. Ethereum (ETH), which is currently trading at $1,712 is up 3.4% on the day and 19.7% in a week but down 3%, its lowest since July 2022 as staked ETH withdrawal nears on April 12th., making investors predict that it will go down even lower before it finds a bottom.
Start of Bull Market?
As BTC continues to pump some believe this marks a new bull market beginning with #Bitcoin Bull Market being underway far from Belief/Denial range signaling cooldown period followed by rally coming soon due to massive room for growth with third green monthly candle already confirmed this month further confirming this theory
Conclusion
Overall Bitcoin has seen significant growth over recent weeks despite issues with banking systems causing panic among investors leading many to believe that this is just the start of another bull run for cryptocurrency markets with Bitcoin leading them all into an exciting future!