Bitcoin in the red zone: How the situation with Silvergate was reflected in the cost of cryptocurrencies – Bits Media

Обвал акций банка Silvergate и слухи о его возможном банкротстве негативно сказались на криптовалютном рынке. How exactly yourself acted separate coins, Including bitcoin, On the outgoing week? What to expect from the market in the near future?

Bitcoin

FROM 24 February by 3 Martha 2023 of the year The cost of historically the first cryptocurrency fell on 3,5%, From $ 23 189 to $ 22,366. The main decline was on 3 Martha, When news about the problems of Silvergate Bank and its inability to provide data for the American regulator.

Source: tradingview.com

There are objective and subjective factors regarding the situation with Silvergate. The first to precisely include a decrease in the value of shares. Over the past week, they lost in the cost of about 70%, Moreover, the fall on 60% I had to 3 Martha. Undoubtedly, The problems of such a significant and famous player of the cryptomor could not but affect the historically first cryptocurrency.

Source: tradingview.com

On the other side, There is a point of view, According to which Silvergate problems did not affect Bitcoin and all coincidences are random. It is precisely this opinion that the founder and CEO of Pixelmatic shall be shared by the founder, Cryptoentesist Samson MOU (Samson Mow):

“Silvergate fall and exchanges loss of its usual banking system does not affect bitcoin. The collapse of the fiat banking system for exchanges means only that, that buying/sale will go to p2p. This is the same, What happened in China ".

Will the MOU be right in the long run - time will tell. In the meantime, you can state: Silvergate problems caused a short -term effect, and at least speculative sales are catalyzed precisely by this fact.

The bank's problems are not only with American SEC. Many companies refuse to accept payments, which go through Silvergate. Coinbase was one of the first refusing.

From positive news it is worth calling the news of, that the XAPO Bank is the first in the world.
I introduced Lightning Network. Now customers of this bank will be able to make payments before $100 Without big commissions and long -time waiting time. truth, This is possible
carry out only in those places, where Lightning Network has already been adopted.

From the point of view of technical analysis, the BTC is in a wide range. Support level - $ 21,376, Resistance level - $ 25,270.

Source: tradingview.com

The index of fear and greed was in the neutral zone all week and on Friday evening, 3 Martha, It is 50.

Ethereum

The fall of the broadcast in the week was slightly smaller, than bitcoin, And compiled 2,62%. Monet was not able to gain a foothold above the resistance level $1 676,8, And the news about Silvergate only aggravated the situation.

Source: tradingview.com

For several months now, fork Shanghai has been waiting in Etherem itself, which was first scheduled for mid -March. However, this week the network developers reported, that in the declared time FORK will not take place. Expected, that now Shanghai will be held in early April, And the exact date of the conduct will be announced later.

Well, Vitalik Buterin counts, that the ecosystem of the Ethereum will need to be carried out by a lot of "work on errors". In this case, the main role of the co -founder of Ethereum gives users to experience. The developer notes, what the emphasis should be made on problem situations.

From the point of view of technical analysis, ETH is in the lateral movement. Attempts to close above the indicated level in $1 676,8 turned out to be unsuccessful. However, it cannot be said, that sellers rule the ball in the market. For this, the broadcast should be closed below the level of $ 1,501.

Source: tradingview.com

Solana

SOL SOLANA SOL token in a week lost more 8,5% value, Reducing with $23,08 to $21,11. The coin fell five out of seven days. The exception was Sunday, 26 february, and environment, 1 Martha. The greatest decrease was on 3 Martha - more 4%.

Source: tradingview.com

If the fall of the last days one way or another can be attributed to Silvergate problems, That fall 25 the number was associated with the next problems of the platform itself. For 18 hours 25 February SOLANA did not process transactions. The problem could not be reliable, In this connection, the leadership decided to write off everything to the last update of the system 1.14.

Anatoly Yakovenko, a co -founder of Solana Labs, has already spoke about this case. In his opinion, The process of updating the platform should undergo a number of changes. The main attention should be paid to stability. It is also necessary to improve the process of restart. Another of the directions will be the creation of an adversarial group, where a third of the developers will go. Their activities will be aimed at building additional traps in the validator code to find vulnerabilities in protocols.

At the moment, SOLANA is dominated by bear mood. From maximums 20 February SOL has already lost more 20% value. The nearest level of support is at the mark near $19,7. Resistance level – $25.

Source: tradingview.com

You can state, What about the week with 24 February by 3 Martha most cryptocurrencies showed a negative dynamics of price changes. This was mainly due to problems of the Silvergate Bank interacting with many major participants in the crypto industry. Apart from the next malfunction in SOLANA, which was associated with the next update of the platform.

This material and information in it is not an individual or other other investment recommendation. The view of the editorial office may not coincide with the opinions of the author, analytical portals and experts.