The rebound in prices was not coincidental. What can be seen as a small return in confidence in the cryptocurrency occurred around the time traditional financial systems were reeling from a series of shocks — the anticipated completion of rate hikes by the US Federal Reserve (Fed) and the collapse of Silicon Valley Bank and Signature Bank, as well as the takeover of the 167-year-old Credit Suisse, reignited a crisis of confidence in traditional financial institutions and structures.
Bitcoin’s gains this year have inspired suggestions that interest in cryptocurrencies is back. But is it true? The Edge Singapore investigates
After a long and harsh winter, signs of a crypto spring may have emerged — Bitcoin, the largest cryptocurrency by market capitalisation, broke over US$30,000 ($40,572.75) apiece on April 11 after stagnating at the US$16,000 levels in the wake of the collapse of cryptocurrency exchange FTX last November.
