Bitcoin price rebound back quickly

In recent days, Bitcoin has rapidly adjusted upwards, reaching a high point of 28,558.70 USD/BTC. This increase can be seen as a sign that the lowest point of Bitcoin has passed and that investors are turning to Bitcoin more and depositing less money in banks due to the possibility of a banking collapse in the United States. The potential for BTC to reach 1 million US dollars is also being discussed.

The recent increase in Bitcoin's price indicates that US investors have played a significant role in buying Bitcoin. Markus Thielin, Head of Research and Strategy at Matrix Port, said that "Americans are buying Bitcoin aggressively." Thielin noted that 47% of the purchases that fueled the increase in BTC's price came from institutional investors in the United States. The U.S. Investors Fuel BTC Rally.

Balaji Srinivasan, former CTO of Coinbase, pointed out that investors often suspend their investments in currencies that lose value during times of economic crisis. He noted that this is currently the case with the US dollar and suggested that he expects Bitcoin (BTC) to replace it as the global reserve currency.

Chris Burniske, a Partner at Placeholder and former crypto lead at Ark Invest, believes that pressure from the United States on crypto will have a backlash effect. Burniske recently stated in a TV interview with The Exchange that now is the time to buy Bitcoin and Ethereum. He noted that people have been laughing and mocking the crypto industry since its inception. Burniske discussed the current financial turmoil and pointed out that Bitcoin was created for times like these.

However, Burniske is not the only financial expert sharing his thoughts on crypto in the midst of the current financial crisis. Mike McGlone and Robert Kiyosaki have also shared their views on cryptocurrency. In an interview, Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, recently stated that the banking crisis is accelerating the demand for crypto. 

McGlone confirmed that Bitcoin emerged from the latest financial crisis in 2020 and that it has done well, rebounding above resistance at $25,000. He emphasized that Bitcoin is becoming more like gold and US government bonds, but in a higher-beta version.

Robert Kiyosaki, author of Rich Dad Poor Dad, spoke through VladTV about why he bought a large amount of Bitcoin when it was priced at just $6,000. Kiyosaki stated that Bitcoin and Ethereum were excellent buying opportunities.