Info aus dem WAN

• The recent downfall of American banks caused a stir in the crypto world.
• Crypto traders applied the ‚Inverse Cramer‘ tactics to benefit from Jim Cramer’s public criticism of several altcoins, resulting in multiple rallies and Bitcoin (BTC) hitting the $26,000 mark.
• Prominent figures in the crypto sphere commented on the banking crisis with light-hearted and edgy takes, blaming it on printed-out fiat currencies and Do Kwon’s failed execution of a crypto-backed stablecoin.

Inverse Cramer Strikes Again

The recent downfall of American banks didn’t bypass the crypto market, as seen in the recent case of the Silvergate bank crash. Soon after, Silicon Valley Bank shares plunged after revealing that they had to sell their securities at a loss. Many leaders in the crypto space believe that CNBC’s Mad Money host Jim ‚Inverse‘ Cramer is to be blamed for this financial crisis due to his confident endorsement of Silicon Valley Bank just one month ago.

The Inverse Cramer Tactic

Crypto traders have been applying ‘Inverse Cramer’ tactics since then, enjoying multiple altcoin rallies after Jim publicly blasted Dogecoin (DOGE), Solana (SOL), Cardano (ADA), and most recently – Bitcoin (BTC). After these comments were made, BTC broke the $26,000 line for the first time since June 2022 and surged 18% daily after FED rate announcement.

Tweets by Crypto Leaders To Lighten The Mood

Many prominent figures in the crypto sphere voiced their opinion regarding this banking crisis with both humorous and serious takes on it – all while pointing out how government labelled crypto as “super risky” despite Circle/Paxos/Tether holding collateral mostly in cash or T-bills without any setbacks occurring. Binance Boss Changpeng ‚CZ‘ Zhao laid blame on printed-out fiat currencies before adding that Do Kwon was right to make a crypto-backed stablecoin but failed miserably when executing it.

Conclusion

The recent events surrounding American banks crashing has left many investors feeling apprehensive about their future investments – but leaders of cryptocurrency are here to lighten up spirits with some witty tweets about this situation! Despite governments labeling cryptocurrencies as “super risky” due to past events like those involving Circle/Paxos/Tether or Do Kwon’s failed execution – people still enjoy using inverse cramer tactics to benefit from altcoin rallies!

Takeaway

Cryptocurrency may be deemed “super risky” by some governments but its members are here to show us why it might not be so bad after all! With its potential for multiple altcoin rallies through inverse cramer tactics – perhaps investing into cryptocurrency is more beneficial than we think!