Hello friends I hope you are well. Yesterday the market capitalization of bitcoin (BTC) and the rest of the cryptocurrencies experienced a strong rise despite the bad news that shook this March that were the bankruptcy of two fundamental American banks for the crypto ecosystem.
If we go to CoinMarketCap we can see that the capitalization of the market recovered a trillion dollars, after losing it at the beginning of the month after the aforementioned news, bitcoin a couple of days ago was around 20 thousand dollars at the time of writing this publication bitcoin steps on 25,869 reached 26 thousand but had a small setback.
As we can see in the chart above, the total market capitalization had dropped by $1 trillion last week after the news that sent the market lower. The news was the voluntary closure of the Silvergate Bank parent company, it should be noted that this bank had been serving the cryptocurrency industry for 9 years.
After the regulators ordered the closure of the two banking entities where the market suffered a strong setback, the market is returning to normal and its total cryptocurrency capitalization recovered from the billion dollars that they had lost, thanks to the confidence in the prices. of all assets rose.
If I remember correctly, this event represents the second and third largest bank failure in the history of the United States. The first was Washington Mutual in 2008. This situation, according to various analysts, makes many people distrust banks and see cryptocurrencies as a safe way to have your money, since cryptocurrencies offer you decentralization and the possibility of self-custody.
Regarding the capitalization of the bitcoin market, it has benefited in the last two days and recovered from its fall to 379 billion dollars, after what happened with the news of Silvergate Bank, returning again to USD 477 billion. dollars and now it has had an increase of 14%, all this data was taken from CoinMarketCap.
