This week on Market Report, our beloved host, Joe Hall, and wise pundit, Sam Bourgi, unfortunately can’t, but don’t worry because Marcel Pechman is here to discuss why he thinks the price of Bitcoin (BTC) is going up. in the midst of collapsing banks.
We start with the first article of the week:
UBS Group agrees $3.25B “emergency rescue” from Credit Suisse
UBS Group agreed to buy ailing rival Credit Suisse for $3.25 billion on March 19 as part of an “emergency ordinance” to prevent financial market instability. To seal the deal, Swiss authorities agreed to change state regulations to bypass a shareholder vote and announce the deal at the end of the week before the market opened. Is this move legal? After this move, does Switzerland still have the reputation of being the safest financial market? Pechman has a lot to say about this and address the problem with Credit Suisse’s debt, so watch the whole video because you don’t want to miss his insight.
Investors shelter in short-term Treasurys, reducing Bitcoin’s chances of rallying to $30K
Bitcoin price surpassed $28,000 on March 21, but according to two derivative metrics, traders are not too happy after a 36% gain in eight days. Looking beyond the stellar performance of Bitcoin, there is a reason investors are not fully confident in the price rise further. The rescue of Credit Suisse, the 167-year-old Swiss financial institution, proved that the current global banking crisis is far from over. Pechman explains why the price of Bitcoin may not yet touch $30,000.
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