The expert said that in the next two weeks, Bitcoin could test the $35,000 level

The price of the main crypto coin has updated its historical maximum since June last year. Ethereum is also near its highs since September 2022. The growth of cryptocurrencies occurs amid fluctuations in the European and American financial markets.

According to CoinMarketCap, on March 20, the BTC exchange rate crossed the $28,400 level. Weekly growth exceeded 18%, and capitalization amounted to about $540 billion. This is the second wave of growth in the last 12 months.

Attention to digital assets remains despite the banking crisis, in particular, the collapse of Silicon Valley Bank and Signature Bank. The American authorities intend to sell these financial institutions on the condition that in the future the organizations will not interact with crypto assets.

However, market participants believe that problems in the banking sector do not particularly affect the industry. According to Alexander Mamasidikov, co-founder of Mineplex Digital Banking, the crisis has become a prerequisite for investors to transfer their capital from banks to other assets.

“Under such conditions, some investors directed their capital to buy bitcoins as one of the alternative means of savings,” the expert notes.

Market participants consider the threat of a ban on crypto assets to be quite low. Roman Kaufman, co-founder of Berezka DAO and Weezi, notes that “on July 1, 2023, Hong Kong will become the first jurisdiction where everyone can officially buy cryptocurrency.”

Analyzing the prospects of bitcoin, a number of factors must be taken into account, says Roman Nekrasov, co-founder of the ENCRY Foundation. We are talking about the future actions of the Fed, whose policies affect the state of the stock market, with which the crypto market is largely connected. Another factor is the proximity of halving. The event is expected only in the spring of next year, but it “traditionally launches new coin growth cycles.”

Looking back at previous years, just before the halving, BTC quotes update the local minimum. According to Roman Nekrasov, the main crypto coin has already overcome this level against the backdrop of the bankruptcy of FTX in November last year.

Participants in the digital currency market are confident that the crypto industry will continue to grow in the near future. Alexander Mamasidikov believes that in the next two weeks, Bitcoin can test the $35,000 level.