Financial Crisis Best Bitcoin Advertising for Novice BTC Traders

A crypto strategist that many people listen to says that the US banking crisis is one of the best ways to get traders interested in Bitcoin (BTC).

The anonymous host of InvestAnswers says in a new interview on Crypto Banter that he thinks people are investing fiat currencies in Bitcoin because they are afraid of what will happen to the banking system.

He says that people who lived through the Great Recession of 2008, which was caused by a banking crisis, see Bitcoin as a safer place to put their money.

“I think what’s happening is you’ve got people coming into Bitcoin. All they know is Bitcoin. They don’t know crypto. But they’re afraid for their fiat, therefore they’re buying Bitcoin first. That’s what you’re seeing here. You’ve got people that have been in Bitcoin for the longest time. If they were too young to live through the great financial crisis in 2008-2009, they don’t know what just happened.

The people that have been around and know what Bitcoin is about just had the best advertisement since the great financial crisis of 2008. That’s my take. And I think people are flooding in. I had calls yesterday reflecting exactly that, new time buyers. And it’s scarce and there’s not much on the exchanges.”

As American banks failed, Bitcoin went up by a lot. On March 14, it broke through the $26,000 level after going down to the $19,000 level last week.

Since then, Bitcoin has gone back down, and at the time of writing, it is worth $24,658.