Cryptocurrencies Price Prediction: Cryptos, Shiba Bitcoin– American Wrap 6 March
Week ahead: Crypto markets stay flat after Silvergate crisis, an opportunity in disguise or troubled waters?
Cryptocurrency markets saw a sudden sell-off on March 2 as a slew of companies, including Coinbase, Paxos, Galaxy and others, dropped Silvergate as their banking partner. As a result, the banking giant’s stock price fell by 66% between March 1 and March 3.
Shiba Inu price noted a consistent downtrend throughout the month of February, which has not ended a week into March. The cryptocurrency is looking at a few more trading sessions, which could close in red, although if broader market cues turn positive, SHIB might not decline to extreme lows.
Bitcoin (BTC) price sees traders bracing for a big key event that is set to take place on Tuesday. The big event at hand is the US Senate hearing , where Fed Chair Jerome Powell will testify on Tuesday and Wednesday. Without hearing from Powell for over three weeks now, markets will want to hear if Powell has changed his mind about his disinflationary message from February.
Author
FXStreet Team
FXStreet
Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.
More from FXStreet Team
