BITCOIN

Traders and investors were encouraged by comments made by U.S. Treasury Secretary Janet Yellen, reassuring bankers that regulators are prepared to protect depositors of smaller U.S. banks.

"MicroStrategy has survived a crypto ice age and now has an opportunity to take advantage of growing interest in DeFi and all the other crypto protocols with better growth potential," a senior market analyst said.

Bitcoin investors are now bullish, especially as former Coinbase Chief Technology Officer Balaji Srinivasan predicted that the impending global banking crisis could take the world's largest crypto asset to $1 million in less than 90 days.

"In February, the Consumer Price Index for All Urban Consumers increased 0.4 percent, seasonally adjusted, and rose 6.0 percent over the last 12 months, not seasonally adjusted," the Bureau of Labor Statistics reported.

"Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve," Bitcoin creator Satoshi Nakamoto said in a blog post.

Many people have lost money through Bitcoin scams. This article also explains five crypto scams and ways to avoid them.

The latest movement of Bitcoin from the authorities' wallet addresses seemingly spooked investors who are worried the government would make a sellout of the crypto asset in the open market.

"With almost certainty, I would say cryptocurrency is looked at by the intelligence community as a non-state actor, which is a little bit dangerous, even adversarial, for those of you in that community," journalist Annie Jacobson said.

"Our corporate strategy and conviction in acquiring, holding, and growing our bitcoin position for the long term remain unchanged," Microstrategy CFO Andrew Kang said.

Crypto winter is a challenging time for investors, as many digital assets will dry out in this harsh market environment, never to be seen again.

Digital currencies have revolutionized the gaming industry.

Since the start of the new year, Bitcoin showcased an impressive price rally soaring from its previous price of below $17,000 to around $23,000 these days.

Paranoid? The domino downfall of FTX and other crypto custodians is enough to make the most trusting investor grab their bitcoin and shove it under the mattress.

Market intelligence platform Santiment, in a report last week, identified nine undervalued crypto assets in terms of short-term and long-term returns.

"I believe Bitcoin will outcompete all fiat currencies. But Bitcoin can, at the same time, live side by side with fiat," Prince Philip said.

"When this finally breaks through, we'll see a glorious god candle to $30,000," the crypto strategist said.

The cryptocurrency market regained the $1 trillion capitalization at the start of the week despite worrying signs of the market bottoming.

Bitcoin is on the charge in 2023, dragging the crypto market off the floor and electrifying bonk, a new meme coin.

Coinbase on Wednesday agreed to pay $100 million to settle a case with New York regulators.

Aside from the plummeting Tesla shares, which lost 65% of their value in 2022, the electric vehicle maker also lost a significant amount due to its Bitcoin holding, representing 0.088% of Musk's loss.

Bitcoin has been trading down over the past months, with its price plummeting further following the FTX collapse and after the Federal Reserve announced another interest rate hike earlier this month.