HONG KONG : Bitcoin hovered near nine-month highs on Monday, and has closed out its best week in four years as turmoil in traditional banking drives some investors to turn to digital assets.
It rose 26 per cent last week and is up more than 35 per cent in ten days as turmoil in the banking sector has rippled around the globe - beginning with the collapse of Silicon Valley Bank and culminating, so far, in UBS' takeover of Credit Suisse at a discount over the weekend. He expects bitcoin can hit $45,000 by year's end, with liquidity from central banks finding its way into crypto assets, much as it did during 2021, when bitcoin scaled record highs.
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