The recent collapse of Silicon Valley Bank has rekindled fears from traditional finance that a prolonged recession is imminent. On the one hand, rising retail prices require quantitative tightening measures, and on the other hand, increasing interest rates are hurting financial institutions.
What could this moment of uncertainty mean for the crypto market, including Bitcoin (BTC), altcoins, and brand-new projects such as AltSignals (ASI)?
What could the fall of Silicon Valley Bank mean for the crypto market?
Silicon Valley Bank, previously the 16th largest commercial bank in the US, dropped rapidly after a classic bank run left the institution unable to pay off its liabilities. This has instigated worries of a 2008-style crash in the US banking system, which could have far-reaching repercussions for the rest of the global financial market.
The crypto market is probably not safe from a widespread loss of confidence in the financial system; however, Bitcoin saw its biggest daily price increase in the wake of the collapse of Silicon Valley Bank.
BTC’s 45% price increase almost mirrors a quick spike in the price of gold, which implies that large corporations have treated the leading cryptocurrency as a safeguard against financial collapse. Nevertheless, altcoins in the crypto market have not responded with the same relative strength, which could indicate more difficulty over the coming weeks.
Whether the crypto market continues to follow Bitcoin’s price trends is yet to be seen. Despite the recent Silicon Valley Bank news, the crypto market is still pushing toward local highs, and new platforms such as AltSignals look ready to benefit from that movement.
ASI presale continues to draw investment during uncertain crypto market conditions
The AltSignals crypto presale is a much-anticipated event, as the platform has been providing over 50,000 users with profitable trading signals since it originally launched in 2017. AltSignals is now expanding its blockchain solution to include an AI-powered trading toolkit called ActualizeAI.
The ASI presale attracted $112k during the same period that Silicon Valley Bank collapsed. This may be an uncommon sign of strength in comparison to other altcoins in the crypto market, which is likely to suggest considerable upside for the token when it is released on digital asset exchanges in the future.
What is AltSignals?
AltSignals is an online trading group that makes use of algorithmic tools to provide signals with an unparalleled rate of accuracy. The proprietary indicator released by the platform, AltAlgo™, has consistently signaled profitable crypto market trades with over 70% accuracy and has aided traders who followed its calls to 10x their portfolio in 19 different months.
The new AI-powered trading stack, currently under development by AltSignals, is designed to increase the frequency and accuracy of trading signals shared within the group. ActualizeAI uses natural language processing (NLP) and predictive modeling to bring machine learning capabilities to the platform’s algorithmic indicators.
AltSignals’ new token, ASI, will power the new blockchain services available on the platform and provide direct access to ActualizeAI. A key aim of the AltSignals project is to help traders of all levels of experience cope with volatility in the crypto market while making substantial profits over the long term.
How does ASI work?
The primary utility of the ASI token is to finance the development and offer access to ActualizeAI. Token holders can also stake ASI on the AltSignals platform without any specified lock-up period and gain voting rights in future governance proposals from the project.
Holding ASI tokens will also grant access to AI Members Club, which contains a range of additional services for the AltSignals community. Members can also participate in trading tournaments on the new platform, where there are considerable prize pools available for the winners.
AI Members Club also delivers lucrative investment opportunities in early-stage crypto projects. Presales and private sales are often some of the most rewarding investments in Web3, and AI Members Club users can gain direct access to some of the most sought-after opportunities in the space.
Can ASI reach $0.50 in 2023?
The ASI token has been highlighted as one of the most exciting new releases on the crypto market. The token represents a project with a proven track record for success that is ready to grow, with 50,000 prior users already backing the new developments.
The presale will steadily increase the cost of
