The global cryptocurrency market is booming. He has made impressive performance in recent weeks. This was possible by the trust that some people have for bitcoin. Many continue to think that bitcoin is a safe bet to keep their money. In view of chain bankruptcies of banks like Silicon valley Bank as well as two others which are Silvergate capital and signature bank, it seems quite clear to many depositors that bitcoin is an alternative to save their money. The difficulties of the banks allowed bitcoin to rise in confidence, in other terms of increasing in popularity. Many bitcoin supporters are convinced that bitcoin is a safe alternative to protect their money unlike well-established financial institutions. All of these beliefs have been reinforced by the bankruptcies of these various banks. This is called in "safe haven" jargon. This is one of the main reasons for the rise of the bitcoin market. On the other hand, the declines of the BTC were slowed down at the time of the announcement of a 25 basis point increase in interest rates by the Federal Reserve American. Despite this banking crisis, the American reserve announced that its priority was given more to inflation than to the banking crisis. Bitcoin is today considered as the safe deposit box to invest your money and also another way to protect against rising prices. On the other hand, when the American Federal Reserve decides to raise rates of interest, this has the opposite effect because it can discourage investors from buying bitcoin. In fact, rising interest rates can make the US dollar more attractive, pushing people to sell their bitcoin and cryptocurrencies for the dollar. For now rising interest rates fails to turn fans away bitcoin in favor of the dollar. Its safe haven status is intact. There is an increase in activity from large investors who continue to make bitcoin trust. This state of affairs certainly has a positive impact on the price of bitcoin because it shows that major investors place their trust in the future of bitcoin. This is explained by more than 13,000 important transactions which were made by major investors called "whales" and 100 other transactions made by whales on Wrapped bitcoin (for those who don't know, wrapped bitcoin is an ethereum token intended to represent bitcoins on the blockchain.) This proves that the whales are more active than normal. For weeks, bitcoin and wrapped bitcoin record the highest levels of whale activity. This revelation continues to have a positive impact on the bitcoin price. It is believed that thanks to these revelations, major investors believe in the future of bitcoin. Several sources confirm that more and more large investors buy bitcoin and wrapped bitcoin on other networks. The current value of bitcoin has reached the psychological mark of $30,000. It is amazing! This uptrend begins around March 10. Nothing proves, however, if this trend will continue in the future. But at the same time the continuous rise. This rise will certainly wait for 31.777 dollars. The bitcoin will easily overcome the resistance price which is estimated at 31,700 dollars. It is quite likely that the price will reach 31,800 in the next few days. We are far from imagining the difficulties that bitcoin had to exceed the price of 25,000 dollars.
