Bitcoin’s performance has been erratic as of late. After building anticipation and giving people hope that the days of crypto winter might be over, Bitcoin has been retracing. The $30k spike, which, according to some experts, was due to some whales wanting to make a play at moving Bitcoin back to its pre-winter phase, has failed to sustain itself for a long time. And now that the Bitcoin price has dropped just above $28k, will the $30k be coming back soon?<\/p>\n
The hourly trading charts for the Bitcoin price<\/a> show the formation of a large red candle last evening after the token was trying to sustain a level closer to its $30k mark.<\/p>\n The rapid drop came after the 4% increase yesterday, the reason for which experts are scrambling to find. Many were speculating about the driving factor behind the upswing when the large candle formed and Bitcoin fell below the $28k mark before bouncing.<\/p>\n Q1 2023 has laid heavy on traditional banks. First, we saw the downfall of Signature Bank, and then the Silicon Valley Bank started looking for life support – all these events contributed to people consolidating their positive stance towards cryptocurrency – leading to Bitcoin’s recent surge.<\/p>\n The last surge, however, was likely due to a report by Fox News that the First Republic Bank will be seized by the US government.<\/p>\n BREAKING: First Republic Bank is expected to be seized by the US government per Fox News<\/p>\n — Matt Couch (@RealMattCouch) April 26, 2023<\/a><\/p><\/blockquote>\nThe News of Republic Bank Likely The Reason Behind the Last Surge<\/strong><\/h3>\n
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