Bitcoin Price Surges, Hits $30,000 – The world’s most popular cryptocurrency, Bitcoin bounces back above $30k reaching its high since June 2022 at the time of writing.
According to live data from CoinMarketCap, Bitcoin is currently rising by 6.52%. This rally also drags along the global crypto market. Reports show that the crypto market cap is $1.24 trillion which is a 4.75% increase over the last day.
The last time Bitcoin rose to this level was exactly 10 months ago. Among the top 20 cryptocurrencies, Bitcoin is currently doing the best. This rally could be due to the fact that traders are expecting Jerome Powell – Federal Reserve Chairman to slow the interest rates. This makes digital assets like Bitcoin and other cryptocurrencies more attractive to invest in.
Meanwhile, others are saying it might be the safe haven Chronicle. This narrative shows Bitcoin and gold to be safe investments in case of a recession. Bitcoin has risen over 80% since the beginning of 2023.
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Recall that the digital asset was trading at around $16,615 in January. This surge comes despite the “risk” associated with the asset, and the countless regulations the crypto industry is facing. Compared to its all-time high of $69,044 in November 2021, Bitcoin still has a long way to go.
Crypto Fear and Greed Index
The Crypto Fear and Greed Index has stayed strong within the Greed area. The most recent update on April 11 shows a score of 68 out of a possible total of 100.
On a scale of 1-100, the Crypto Fear and Greed Index numerically show the level of confidence, emotions, and sentiment toward Bitcoin and the general crypto market.
Similarly, on March 21, the index also hit the 68 mark, making it the highest level since a recorded score of 66 on November 16, 2021. This was just a few days after Bitcoin reached its all-time high of $69,044, recorded on Nov. 10, 2021.
Crypto influencers like Michael Saylor – Founder of MicroStrategy have been strong advocates for Bitcoin. He has been leading the charge for big corporations to accept cryptocurrency as an asset.
Recall that MicroStrategy added $4.17 billion worth of Bitcoin to its portfolio. This is about 140,000 BTC as of April 5. This addition was done when Bitcoin was trading at about $29,803, meaning that with the little increase in price, MicroStrategy has made a profit on its investment. See the report below.
MicroStrategy has acquired an additional 1,045 #bitcoin for ~ $29.3M at an average price of $28,016 per bitcoin. As of 4/4/2023 @MicroStrategy holds 140,000 bitcoin acquired for ~$4.17 billion at an average price of $29,803 per bitcoin. $MSTR https://t.co/IBufTxalnv
— Michael Saylor⚡️ (@saylor) April 5, 2023
Bitcoin Price Today
Live data from CoinMarketCap shows that Bitcoin is currently trading at $30,146.31 with a 24-hour trading volume of $23,825,238,001 USD. The price of Bitcoin is currently up 6.21% in the last 24 hours. Furthermore, CoinMarketCap ranks it at #1 with a live market cap of $582,180,999,860 USD.