Crypto-Tuesday March 14, 2023 – Pi Day – Now that the Government has effectively guaranteed every deposit in every bank in America, Cryptocurrency prices have seen a sharp increase., Coinbase (COIN 5.88%) rose 11.9% on Tuesday and other cryptos such as Cardano, Ethereum and Bitcoin also saw double-digit gains.
The Consumer Price Index report released Tuesday morning showed that inflation cooled down mildly in February. There are expectations that the banking crisis will also have an effect on the Fed’s interest rate targets. This could prove a benefit for both the crypto market and digital currencies themselves.
The recent surge has brought some digital tokens back to levels last seen at various points throughout 2021, while others have seen double-digit gains over the past two days.
I think it is unrealistic to expect the economy to have a quick rebound. Did you notice the banks are failing?? That is never a sign of a strong economy.
There is lots of bullish talk out there. Again, did you notice the banks are failing?
Attorney Steven A. Leahy takes a look at the Crypto market on Today’s Tax Talk.
Steven A. Leahy is a tax attorney in Illinois. He was the host of the long-running popular Radio Show “The IRS Radio Hour” heard every Sunday evening on AM 560 The Answer. Attorney Leahy is also the author of the book “Deal With Your IRS Problems Today!” You can get a FREE copy of this important book at FreeIRSBook.com. Or Call 24/7 (312)664-6649