Dogetti, Bitcoin, and Ethereum: Post-Silvergate Price Prediction

On Wednesday, Silvergate bank publicly spoke about its problems with the SEC regarding a filing that would delay its financial report. With this, the crypto bank decided to press the breaks on the payments to its exchange, the Silvergate Exchange Network. This spiked fear and uncertainty in investors, causing a bank run that led to a loss of $1 billion!

Silvergate Bank is the main payment network provider for numerous cryptocurrencies, so the bank run has had a severe impact on the industry. Silvergate is also well known for working with FTX and Alameda Research and, in effect, also experienced an enormous loss of $14 billion in 2022. How will the bank's recent problems with the SEC affect some of crypto's top coins and tokens?

DETI's Recent Developments

The top crypto meme coin, Dogetti (DETI), is yet to be officially released. However, through a strong community ethos and enticing features, the token has already managed to rake in a mass "family" of investors.

While DETI is still in its early presale stages, they have already secured an official contract address as of last week. A contract address is an address created by cryptographic technologies which allow cryptocurrencies to be bought and sold. This is an exciting step toward the dog-themed coin becoming an established part of the industry. In addition, the DETI team has released a limited launch code (WISEGUY25) which offers 25% off all tokens during stage 1 of the presale.

Given that Dogetti is still in its presale, most investors assume the dust will have settled regarding the Silvergate damage before the token's launch. Furthermore, crypto analysts predict that these unfortunate events will have little to no impact on DETI.

Bitcoin's Bear March

On account of the Silvergate complications, Bitcoin's (BTC) latest price action has abolished $20 billion of its market cap, which now stands at $431 billion. The coin's price fell from $23,800 to $22,300, and many other coins, such as Solana (SOL), Cardano (ADA), and Polygon (MATIC), encountered losses between 4% to 5%. BTC is now facing major selling pressure following a decision taken by Coinbase and Paxos from Silvergate to alternative banking partners.

On the 4th of March, BTC was hanging on around $22,350. However, if it weren't for recent events, analysts predict that BTC would have reached 25k this week! If matters get worse, the coin may even break $22k and plummet near $21,600. BTC is now floating at around $22,400, but if it manages to break $23k, we may see a bull run for BTC once again.

Can Ethereum Recover from this?

There was another major bank run for crypto investors on Saturday, leaving Ethereum (ETH) to slip by 0.19%, in addition to its 4.73% drop on Friday. This reduced the coin's price to $1,567, below the point of 1,600 for the first time since mid-February! This morning, ETH experienced a high of $1,578 but struggled against its resistance level, which stands at $1,630.

Considering the latest Silvergate bank drama, the ETH charts indicate more bear runs before things improve. However, Ethereum has managed to hold a price of above $1,550, which it hasn't fallen below since the beginning of February, and even then, it quickly recovered back up to $1,600 in a mere few days.

So even if ETH is bound to face further price drops, there's a good chance that it will recover soon enough. With that, we can only hope that the possible incoming bankruptcy of Silvergate bank doesn't affect other crypto-related firms in its wake. All things considered, crypto analysts still believe that ETH is likely to return to $1,700 once things have cooled down. They also predict that by the end of 2023, the coin may likely break past $2,000 and be on its way to a full recovery!

Click the Following Links to Learn More About Dogetti!

Presale: https://dogetti.io/how-to-buy

Website: https://dogetti.io/

Telegram: https://t.me/Dogetti

Twitter: https://twitter.com/_Dogetti_