Bitcoin Bulls Dream of $1M Price as NYCB Reaches 1990s Levels

“Make Money with Web 3.0 Banking: The Future of Finance”

Web 3.0 has brought back the million-dollar price tags for Bitcoin (BTC), as the regional banking sector in the United States faces a crisis.

It’s been almost a year since the collapse of multiple banks, including the crypto-focused Signature Bank, which has seen a 60% decrease in value year-to-date.

But with the rise of web 3.0, there are new opportunities for making money in the digital realm. The web 3.0 community is buzzing with excitement about the potential of the metaverse and its role in the future of finance. As we enter the era of flux web 3.0, it’s clear that this technology will revolutionize the way we bank and do business. Are you ready to be a part of it? Join our web 3.0 agency and discover how to make money in this new frontier of finance.

Hayes is keeping his $1 million BTC price bet on the table

In what could be a case of deja vu, Bitcoin enthusiasts are witnessing what some believe to be the early stages of a second banking crisis in the United States.

As the one-year anniversary of the initial turmoil approaches, New York Community Bancorp. (NYCB) has seen a 30% drop in its stock value in just five days.

Closing at $4.20 on February 6th, according to TradingView data, the bank’s performance has sparked concern – especially considering that NYCB acquired the failed crypto bank, Signature, last year.

“NYCB bank is returning to its 1997 valuation,” remarked Benjamin Cowen, CEO and founder of the crypto newsletter Into the Cryptoverse, in a recent post on X (formerly Twitter).

In March 2023, Bitcoin experienced sudden volatility as regional banks began to collapse – a domino effect that ultimately led to the Federal Reserve stepping in with the Bank Term Funding Program (BTFP).

The BTFP has been in effect for a year, but it will not be renewed – something that former BitMEX CEO and crypto derivatives giant Arthur Hayes believes will set the stage for a repeat performance.

During the initial crisis, BTC price initially suffered due to uncertainty, but eventually rebounded. As reported by Cointelegraph, Hayes predicts a potential drop to $30,000 this March, followed by a similar rebound.

In addition to NYCB’s losses, the recent downgrade of its status to junk by ratings agency Moody’s has led Hayes to reiterate his $1 million BTC price forecast.

“From junk to bankrupt – that’s what the future holds. And then the money printer goes brrrr,” reads part of a recent post on X.

Web 3.0: The Future of Making Money

As the world continues to experience financial instability, it is not just limited to the United States. China’s CSI 1000 index has lost a staggering $7 trillion since the last quarter of 2020, with an 8% drop in a single day on February 5, before rumors of a rescue caused it to rebound.

However, amidst all this chaos, Bitcoin remains unaffected. Despite the recent launch of U.S. spot ETFs, Bitcoin has yet to show any significant price movement in response to these macroeconomic triggers.

According to data from Cointelegraph Markets Pro, BTC/USD has maintained a steady daily range for over 150 days.

Web 3.0 is the future of banking and community, and it is clear that it will play a major role in shaping the future of finance. With the rise of the metaverse, it is evident that Web 3.0 is here to stay and will continue to evolve in the flux of the ever-changing financial landscape.