This Coin Will Become The Key Cryptocurrency In Banking!

American private wealth management firm Bernstein predicts that cryptocurrencies will play a key role if the Fed continues its faulty monetary policies.

Bernstein analysts argue cryptocurrencies are ‘future’

In a recent report by Bernstein, analysts suggested that the future of the banking industry lies in Bitcoin (BTC) and that we are heading towards an era of hyper-bitcoinization. The report states that a financial collapse could be the catalyst that led to the widespread adoption of Bitcoin as the only key currency.

Analysts at Bernstein, led by Gautam Chhugani, pointed out that with the rise of social media, we have entered a new era of ultra-fast information flows and ultra-fast bank runs. The report also evaluates the latest situation in the markets in light of the current banking crisis.

Consequences of the banking crisis

The report states that in the week ending March 15, $120 billion in deposits left provincial banks, with more than half of this money going to large banks. The crisis then shifted to Europe, resulting in UBS’s purchase of rival Credit Suisse on March 19 at a discount.

Chhugani explains that banks are dealing with new risks that they never anticipated. With the Fed’s upcoming 24/7 instant payment system (FedNow), ultra-fast withdrawals are expected to be made even easier.

FED Cryptocurrency Explained to Banks

The report suggests that this could be the defining moment in the history of money, and if another setback forces the Fed to undermine the “true value” of the dollar, hyper-bitcoinization may be the last way advocated by Bitcoin followers.

Hyper-bitcoinization refers to a situation where Bitcoin replaces other currencies and becomes the only key currency. The report suggests that this is not only possible, but likely if current financial systems continue to fail.

Opinions of experts on the crypto currency thesis presented by the report

This report sparked excitement in the financial world, with many experts questioning whether Bitcoin could truly replace traditional currencies. Some pointed out that the existing infrastructure is not ready for such a change and there are still many technical and regulatory hurdles to overcome.

Despite these concerns, Bernstein’s report highlights the growing interest in Bitcoin and cryptocurrencies as a whole. The rise of cryptocurrencies is changing the way we think about money, and it is clear that we are entering a new era of finance.

Bitcoin Forecast Output: Levels May Break

Bitcoin (BTC) price fluctuated throughout much of the last week of March, but the trend continued without attempts to break the $30,000 yield barrier for a correction. BTC has hit a local high of $29,000 several times. But these periods were met with almost immediate rejection. According to analysts, the current trend of Bitcoin is similar to 2019, when it peaked but eventually returned to annual bottoms. We have included weekly analyzes in this article.

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