Dogetti, Bitcoin and Ethereum: Price Prediction After the Silver Scandal – 237online.com

On Wednesday, Silvergate Bank spoke publicly about its issues with the SEC over a filing that would delay its financial report. The crypto bank then decided to halt payments to its exchange, the Silvergate Exchange Network. This caused fear and uncertainty among investors, causing a bank run that led to a billion dollar loss!

Silvergate bank is the primary payment network provider for many cryptocurrencies, so the bank manages a significant impact on the industry. Silvergate is also well known for its collaboration with FTX and Alameda Research and indeed suffered a whopping $14 billion loss in 2022 as well. cryptocurrency tokens?

Recent DETI developments

Dogetti (DETI), the same top cryptocurrency coin, has yet to be released. However, thanks to a strong community ethos and attractive features, the token has already managed to attract a large “family” of investors.

While DETI is still in its early pre-sale stages, it already secured an official contract address last week. A contract address is an address created by cryptographic technologies that enable the buying and selling of cryptocurrencies. This is a step that will motivate the dog-themed play to take hold in the industry. Additionally, the DETI team released a limited launch code (WISEGUY25) that offers 25% off all tokens during Stage 1 of the presale.

Since Dogetti is still in pre-sale, most investors assume that the dust will settle regarding the damage caused by Silvergate before the token’s launch. Furthermore, crypto analysts predict that these unfortunate events will have little to no impact on DETI.

Bitcoin’s bear market

Due to Silvergate complications, the latest Bitcoin (BTC) price action has removed $20 billion from its market capitalization, which now stands at $431 billion. The price of the coin fell from $23,800 to $22,300, and many other coins, such as Solana (SOL), Cardano (ADA), and Polygon (MATIC), suffered losses of between 4% and 5% . BTC is now facing heavy selling pressure following the decision by Coinbase and Paxos to switch from Silvergate to alternative banking partners.

On March 4, BTC was hanging around $22,350. However, without recent events, analysts predict that BTC would have hit $25,000 this week! If things get worse, the coin could even break above $22,000 and plunge towards $21,600. BTC is currently floating around $22,400, but if it manages to break above $23,000, we will see a new bull cycle for BTC.

Can Ethereum recover?

Cryptocurrency investors saw another big bank run on Saturday, claims Ethereum (ETH) slipped 0.19%, on top of Friday’s 4.73% plunge. This reduced the price of the coin to $1,567, below the 1,600 point for the first time since mid-February! This morning, ETH hit a high of $1,578 but struggled against its resistance level, which sits at $1,630.

Given the latest Silvergate banking drama, ETH charts point to more bearish cycles before things look up. However, Ethereum managed to maintain a price above $1,550, which it has not exceeded since the beginning of February, and even then it quickly recovered to $1,600 in the month. within a few days only.

So, even if ETH is bound to experience further declines in price, there is a good chance that it will recover quite quickly. It only remains to hope that the possible upcoming bankruptcy of the Silvergate bank does not affect other cryptocurrency-related companies in its wake. All things considered, crypto analysts continue to believe that ETH is likely to return to $1700 once things calm down. They also predict that by the end of 2023, the coin could surpass $2000 and be on the way to a full recovery!

Click on the following links to learn more about Dogetti!

Prevent : https://dogetti.io/how-to-buy

Website : https://dogetti.io/

Telegram: https://t.me/Dogetti

Twitter: https://twitter.com/_Dogetti_