Image: Davor Puklavec/PIXSELL
After a rollercoaster weekend, Bitcoin has rallied by around 20% in the last four days in the wake of the Silicon Valley Bank collapse.
It hasn’t been the best 12 months for crypto, which has been hit particularly hard by economic downturn and interest rate rises.
The industry took another blow last week when Silvergate Capital — an important lender in the crypto space — liquidated its banking operation. This caused chaos for cryptocurrency, which was further spurred by the shuttering of Silicon Valley Capital over the weekend.
Both institutions had cash tied up in US Treasury bonds, but had to sell at a loss to raise capital in the current high interest rate environment where less VC money was being thrown around and more startups were taking money out.
But things turned around for Bitcoin when the the US
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