If I have to say with one word: Yes. Bitcoin and cryptocurrencies will survive the Silicon Valley Bank, SVB debacle.
With more words, it depends whether the government gets involved.
Government MUST NOT get involved into the crypto market, I am of the opinion.
The market must be allowed to clear.
The Federal Reserve must do its duty supervising financial institutions.
From various interviews, I hear large Bitcoin and cryptocurrencies market participants want the Federal Reserve to allow crypto banks to hold cryptocurrencies assets in the Federal Reserve, the central bank of the United States of America. The Federal Reserve via foreign currency swap lines with the EUR, JPY, GBP, CHF and the SEK is indirectly functioning as the central bank of the whole world, actually or at least is by far the most influential central bank. Regarding Crypto, the above implication by crypto participants amounts to the Federal Reserve directly backstopping the Bitcoin and cryptocurrencies market.
This must not be allowed, in my opinion!
The Federal Reserve is creating huge morale hazard even now, as it is bailing out incompetent banking management with taxpayer's money.
Ah, yes. We are all just going to print money ourselves out of this! To where, Mars?
Elon Musk has rockets.
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