Bitcoin, Ethereum, Dogecoin Plunge After Silvergate Failure, But Here’s Why A Bounce Could Be In The Cards

Bitcoin (CRYPTO: BTC) was sliding over 2% lower on Friday, in tandem with the S&P 500, which was dropping about 1.6% amid recently announced failures in both the banking industry and the crypto sector. On Thursday, Silicon Valley-based SVB Financial Group’s attempt at fundraising and crypto bank Silvergate Capital Corp annoucement it will shut down sent shockwaves through the general market and crypto sector.