In this week’s episode of Market Report, Meritlives resident expert explains why Bitcoin is rising and why banks are collapsing.
Unfortunately, our beloved hosts Joe Hall and insightful expert Sam Bourgi were unable to join us for this week’s The Market Report, but don’t worry.
Bitcoin
$28,179
Prices soar amid collapsing banks.
We’ll start with the first article of the week.
UBS Group agrees to $3.25 billion ’emergency bailout’ from Credit Suisse
UBS Group agreed on March 19 to buy struggling rival Credit Suisse under an “emergency order” to prevent destabilization of financial markets. To complete the deal, Swiss officials agreed to change the country’s regulations to bypass a shareholder vote and announce the deal the weekend before the market opens. Was this step actually legal? Can Switzerland still maintain its reputation as the safest financial center after this step? Pechman has had a lot to say on the subject, dealing with issues with Credit Suisse’s creditors. You don’t want to miss his insight, so watch the full video.
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Investors take refuge in short-term Treasuries, reducing chances of Bitcoin rallying to $30,000
Traders aren’t too enthusiastic after bitcoin’s price crossed $28,000 on March 21, but he climbed 36% in eight days, according to two derivative indicators. Aside from Bitcoin’s impressive performance, there’s a reason investors aren’t entirely confident that the price will continue to rise. , proving that the current global banking crisis may not be over yet. Pechman Explains Why Bitcoin Price Still Won’t Exceed $30,000
