According to the news, Hany Rashwan , CEO of cryptocurrency company 21.co , said that Silvergate Bank 's plight, including the closure of its encrypted lending platform SEN, will not necessarily affect the price of BTC . Instead, recent price levels have been attributed to macroeconomic factors. The Silvergate story is yet to be determined, but BTC ’s price performance is now influenced by macroeconomic factors, and inflation is still rampant at the moment. I don't think we're out of the woods yet, we'll continue to see rates rise, but whether the market has priced it in is really hard to show right now. Still, China's opening is clearly Bullish and sending a lot of buy signals, Rashwan said.
