Bitcoin is the new solution for beating bank runs, and this has become the new bull narrative for the crypto industry. As fear of bank runs grows globally, people are finding new ways to protect their savings from inflation and unpredictable economic conditions. Bitcoin offers a decentralized and secure alternative that can help you avoid losing your funds due to bank failures. With this new trend, Bitcoin has become an increasingly attractive option for investors, and its price is expected to rise further as more people join the bandwagon. If you’re interested in investing in Bitcoin, you should keep an eye on this new trend and consider adding Bitcoin to your portfolio.
Bitcoin is experiencing a surge in price, rising by over 20% since last Friday, possibly due to a new bullish narrative that suggests using BTC to beat bank runs occurring in the United States. Silicon Valley Bank’s recent failure and the possibility of depositors being unable to withdraw their money has caused widespread panic and a run on banks. This situation comes just days after the 90-year anniversary of Proclamation 2039, where FDR announced a week-long bank holiday to prevent bank runs across the country. However, the US government has announced a plan to restore faith in the US banking system, creating a new bullish narrative for Bitcoin. Narratives drive financial markets, and now Bitcoin is being considered a means to allow individuals to be their own banks, preventing collateral damage resulting from human greed. The market’s response to this narrative is causing a buying spree across crypto, but whether it can take Bitcoin to new highs remains to be seen.