Bitcoin About To Rally? US Govt To Bail-Out First Republic


Breaking News: As Reuters just reported, US officials are currently coordinating urgent talks to rescue the troubled First Republic Bank (FRC) – for Bitcoin, this could mean rally-time once again if history repeats itself as it has in recent weeks. Already on Tuesday, BTC experienced a sudden rally after First Republic Bank released its quarterly report with devastating numbers.

Thus, the narrative that first surfaced on March 10 repeated itself. After the collapse of Silicon Valley Bank and Silvergate, news of a bank failure served as a trigger for several upward moves in Bitcoin. And First Republic Bank could be another argument boosting confidence in Bitcoin and eroding trust in the banking system.

How To Get Free Crypto  
Claim the JACKPOT with 55 FREE SPINS. Signup today to redeem your bonus.

This Is Why Bitcoin Was Created

As private sector efforts led by the bank’s advisors have yet to produce an agreement, US officials have now apparently intervened in the situation surrounding First Republic Bank, Reuters reports. According to three anonymous sources, the Federal Deposit Insurance Corporation (FDIC), the Treasury Department and the Federal Reserve are said to be involved in the talks.

Authorities reportedly began scheduling meetings with financial firms to organize a bailout in recent days. Remarkably, a bailout could again take place over the upcoming weekend to mitigate the impact on the traditional financial system.

According to Reuters’ anonymous sources, the government’s involvement is likely to help bring more parties to the negotiating table, including banks and private equity firms. However, the US government reportedly favors a deal with the private sector, but engagement is still not out of the question.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Play Now!

US officials believe a private-sector solution would be better than placing First Republic under FDIC receivership, according to two of the sources.

Coinbase Banner  

“We are in discussions with several parties about our strategic options as we continue to serve our customers,” First Republic said in a statement. Meanwhile, the FDIC, Treasury Department and Federal Reserve have remained silent.

Ultimately, the parties involved have not made a decision on how to proceed. According to Reuters, an agreement is still not certain. The most problematic aspect of the involvement of other major banks may be the initial situation.

As shown in the quarterly report for the first quarter, the run on the bank was more dramatic than previously known. The bank had reported that customers had withdrawn nearly $100 billion in deposits in March. Only because other major banks stepped in with $30 billion in March, worse was prevented for the time being. But even that was not enough.

At press time, the Bitcoin price was at $29,454. Today marks the most important day of the week for the market with the release of the Personal Consumption Expenditures Price Index (PCE) at 8:30 am EST (2:30 pm CET).

FreeBitcoin Banner  

February’s core PCE was +0.3% on a monthly basis, below the forecast of +0.4%. For March, analysts expect an unchanged increase of +0.3%. On a yearly (YoY) basis, an increase of 4.5% is expected, up from 4.6% in the previous month. If the core inflation rate falls, a bullish response in the Bitcoin market is expected.

BTC price, 4-hour chart | Source: BTCUSD on

Featured image from iStock, chart from

Go to Source
Author: Jake Simmons

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.