1. April 2023

• The recent decline of the crypto market can be attributed to the release of US manufacturing numbers and concerns surrounding accessibility of banking services for crypto companies in the US.
• Silvergate Capital’s announcement of a delay in their annual report submission due to losses incurred from the November FTX crash has had a detrimental impact on market sentiment, resulting in investors and traders losing faith in crypto stability and security.
• Risk aversion is increasing among investors due to potential Federal Reserve rate hikes and inflation.

Tether Fear, Uncertainty, And Doubt

The world’s largest stablecoin, Tether (USDT), has been facing legal issues recently, leading to fear, uncertainty, and doubt (FUD) within the cryptocurrency market. As a result, Bitcoin (BTC) has dropped to the $22,000 level. Other well-known cryptocurrencies such as Litecoin (LTC) and Dogecoin (DOGE) have also seen slight price declines.

Silvergate Uncertainty Weighs On Crypto Market

After its closing on Wednesday night, Silvergate filed a report with the Securities and Exchange Commission (SEC), announcing it would delay submitting its annual report due to assessing several events’ impacts on operations. Following this news, cryptocurrencies including Bitcoin suffered greatly with mixed signals being displayed afterward. This event had an extensive effect on the value of digital assets since Silvergate is one of America’s largest banks that offer services for crypto companies.

Regulatory Scrutiny Increases

The recent backlash faced by Silvergate Capital has led to increased regulatory scrutiny concerning the cryptocurrency industry from authorities who are now more hesitant than ever before when it comes to issuing licenses for related businesses. This could potentially limit or slow down growth/expansion within this sector.

Risk Aversion In The Bitcoin Market

Investors have become more risk-averse in the Bitcoin market due to speculations that Federal Reserve may take aggressive action against persistent inflation by raising interest rates soon. Because of this situation all economic indicators are being closely monitored by traders who are preparing themselves for any potential rate hikes or inflationary scenarios that may occur in near future .

Bitcoin Price Prediction

Given all these factors affecting BTC pricing at present , it seems like we might see some bearishness at end of week . However , if no major economic changes occur then prices should start recovering shortly afterwards . With current developments , it is difficult predict how far BTC can go but with proper risk management strategies we can expect better returns over long term .