On April 26, Bitcoin surged 11% to $30,000 during Wall Street's opening.
This was primarily driven by the continued U.S. banking crisis, which has seen First Republic Bank (FRC) drop approximately 60% this week alone.
The bullish momentum in Bitcoin continued to rise because it seems unlikely the 11 banks that previously infused $30 billion into FRC will do so again. And the U.S. government is remaining uninvolved in the crisis affecting First Republic Bank.
Former BitMEX CEO Arthur Hayes argued that a failure of First Republic Bank could trigger a dangerous chain reaction of insolvencies among other banks with similar issues.
As a result, Bitcoin and gold saw an increase in value due to the lack of clarity surrounding the bank's fate.
Despite a temporary consolidation around $30,000, Bitcoin traders and analysts remained confident in the overall uptrend, with some forecasting a return to range-bound BTC price action up to $40,000.
I believe it's only a matter of time until Bitcoin hits $40k again – possibly later this summer.
And then new all-time-highs are in store following the April 2024 halving.
Bitcoin Jumps 11% in 1 Day! New Video Alert Inside…
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In case you didn't see, Bitcoin jumped more than 11% the other day alone…
Which is funny because I sent out this urgent new video alert for the first time yesterday, too.
In it, I explain why I've turned bullish on some cryptos… including Bitcoin.
I also discuss three smaller cryptos that get high Weiss crypto ratings and could be poised for big upside…
I highlight another crypto that's 100% backed by physical gold…
And I even talk about several ways to earn Bitcoin without having to use any of your own investment money at all.
Obviously, there's no way to know if this sharp rally will continue or not.
But if you're even mildly curious about the crypto space, I strongly recommend you click here to watch my new presentation right now.
