Cryptocurrencies Price Prediction: Bitcoin, Polkadot and Ripple – European Wrap 13 March
Here is why Bitcoin price could risk sliding below $20,000, as Fed tries to contain the banking crisis
Bitcoin (BTC) price sees its price action pumping higher with already 10% being claimed after the ASIA-PAC trading session handed it over to the European partners. Bulls should be aware of the reason why the US Federal Reserve and the US Treasury were so active in getting a rescue package for the implosion of Silicon Valley Bank and getting the markets to calm down by the US open this Monday. Several banks quickly came out over the weekend with calls that the Fed will not hike interest rates this month, while others think it must if it does not want to lose control over inflation.
Polkadot price is up 8%, but will it sustain the bullish momentum?
Polkadot (DOT) price obtained bullish momentum on March 12 right in the middle of a joint statement from the US Treasury Department, the Federal Reserve Bank, and the FDIC that all Signature Bank and Silicon Valley Bank (SVB) depositors will be reimbursed. However, the altcoin has been unable to make a decisive move upwards as it was facing a lot of upward rejection. This could see the token lose all the ground covered over the weekend.
Can XRP price trigger a 9% recovery rally after US Treasury Department called for SVB
XRP price is on course to regain all the ground lost since the topple of Silicon Valley Bank (SVB) on March 10, after identifying a decisive pivot from which to scale a recovery. The boomerang effect is attributed to reassurances by Ripple Labs CEO, Brad Garlinghouse, that despite some of its cash being held at SVB, the firm “remains in a strong financial position.”
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FXStreet Team
FXStreet
