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Cointelegraph analyst and writer Marcel Pechman explains how China’s economic weakness and Turkey’s interest rate hikes could impact the cryptocurrency market. On the latest episode of Cointelegraph’s  Macro Markets , analyst Marcel Pechman explores how Turkey’s recent interest rate increase might attract hundreds of millions of new crypto currency investors, and how China’s looming economic crisis could affect Bitcoin (BTC) and crypto globally. Turkey’s central bank has increased the interest rate by 6.5% to 15% in a dramatic attempt to fight inflation. The move comes as the local currency, the lira, dropped by 80% against the United States dollar in five years. According to Pechman, whether the U.S. dollar holds its dominant position as a global reserve currency doesn’t matter. Turkey and Argentina’s 70% inflation in 2022 are perfect examples of how decentralized cryptocurrencies might be the sole lifeguard for hundreds of millions — if not billions — of people who cannot save an...

Cathie Wood was impressed that Bitcoin “moved in a very different way” compared to the equity market in response to the recent banking crisis. The value proposition of Bitcoin (BTC) is on full display amid the current banking crisis , which will only “ attract more institutions ” to the BTC market over time, ARK Invest CEO Cathie Wood believes. Wood shared her thoughts on BTC’s recent price surge in a March 21 Bloomberg interview, stating its price behavior through the crisis “is going to attract more institutions.” “The fact that Bitcoin moved in a very different way from the equity markets, in particular, was quite instructive,” she added. ARK Investment Management CEO Cathie Wood says the behavior of the Bitcoin's price through the latest banking turmoil will attract more institutions and investors https://t.co/2d8cT7SX3n pic.twitter.com/Eaymh05lhq — Bloomberg Crypto (@crypto) March 21, 2023 Institutional interest in Bitcoin may have already arrived according to Oliver...

Finding the right balance between regulations and banking institutions is important for Schiff, considering that Puerto Rico regulators closed down Schiff’s bank due to non-compliance. The recent fall of major banks in the United States and the need for federal intervention reignited discussions to identify the most effective ways to safeguard the crumbling economies. Comparing the episode to the financial crisis of 2008, prominent economist Peter Schiff found that increasing banking regulations contribute to the worsening financial crisis. A deeper analysis of Silicon Valley Bank (SVB) by a group of economists revealed that nearly 190 banks in the United States are at risk of a depositor-driven collapse. It was highlighted that the monetary policies penned down by central banks could hurt long-term assets such as government bonds and mortgages, creating losses for banks. The 2008 financial crisis was driven by the collapse of the housing market. However, Schiff believed the crisis ...