The banking crisis hit the US banking sector hard, in return Bitcoin index jumped 4%, and the First Republic Bank stock (FRC) lose its value. These are not the early signs but the outcome of covid and the slow recession.
Thanks to the encrypted economy, which is available to fill the gap of the banking crisis. The economists tell the story from their perspective like the problem lies in lending and borrowing but in fact, the whole situation leads to the losing confidence on 100 years old banking system.
The encrypted work provides a better method to manage the big financial system. Despite regulatory concerns, the model presented by the encrypted world is predictable and highly efficient. In case of any big failure, the encrypted world takes care of the whole financial system.
It is possible that some people never accept these crypto coins because they devote their lifetime to building old systems that have many errors and problems especially requiring so much energy to run the system.