Bitcoin Rally to $35,000 as US Banking Crisis Deepens

• PacWest Bancorp, a struggling U.S. bank, is considering strategic options, including a potential sale, as its shares plummet.
• The turmoil in the U.S. banking sector has intensified, with TD Bank scrapping its planned acquisition of First Horizon.
• Bitcoin’s price continues to rise amid the uncertainty, with some experts predicting a potential rally to $35,000.

US Banking Crisis

PacWest Bancorp, a California-based American bank, is currently exploring various strategic options to secure their financial future as their shares continue to tumble. The bank has enlisted boutique investment bank Piper Sandler to help explore these options which include raising capital and potentially selling the business. This comes at the same time that TD Bank scrapped their planned $13 billion acquisition of Memphis-based First Horizon due to regulatory uncertainty surrounding the deal.

Bitcoin on the Rise

Amidst all of this chaos in traditional banking, Bitcoin’s value has been steadily increasing and some experts are even predicting it could reach prices of up to $35,000 soon. Federal Reserve Chair Jerome Powell hinted at an eventual pivot from traditional banks towards cryptocurrencies and JPMorgan analysts have suggested that investors should be holding Bitcoin for long-term gains rather than gold or stocks which can be more volatile investments in uncertain times.

Potential Options for PacWest

As mentioned before PacWest is considering different strategic options such as raising new capital or selling the business altogether in order to maximize shareholder value and stop any further losses from occurring due to their plummeting stock prices earlier this week during after-hours trading when it dropped by 50%.

Long Term Outlook

The outcome of this US banking crisis remains unknown but what is clear is that Bitcoin appears to be gaining significant traction amongst investors who are looking for stable storages of wealth during these turbulent times where traditional banking may not offer them enough security or peace of mind moving forward into an increasingly digital world.

Conclusion

It will be interesting to see how PacWest proceeds with its search for stability over the coming weeks while also keeping an eye out on how Bitcoin’s price develops following all of these events taking place within US banking sector recently since they could indicate major shifts in terms of investment strategies and overall sentiment towards cryptocurrencies moving forward into 2021 and beyond..