Bitcoin's Rise Fueled by Banking Crisis and Security: Strategist

JPMorgan strategist Nikolaos Panigirtzoglou believes that bitcoin has been boosted by the recent banking crisis, as well as the launch of bitcoin ordinals and the upcoming halving event in April 2024. He notes that the weaknesses of the traditional financial system have been exposed, and that crypto supporters argue that the crypto ecosystem is superior due to deposits being held in entities such as stablecoins, which are less susceptible to runs. The launch of bitcoin ordinals could increase transaction fees, while the halving event could have a positive psychological effect.