Bitcoin Hits $30K, Its Highest Price Since June 2022

April 11, 2023

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According to the data from CoinGecko, Bitcoin has surpassed $30,000 which it had not reached since June 10, 2022. Thus, BTC is indeed setting a high benchmark for the year 2023. In the last 30 days, BTC recorded a gain of about 46% today which is its highest in ten months.

However, analysts predicted that Bitcoin would regain its price tag as the trader was waiting for the United States Consumer Price (CPI) report to be released on April 12. This would give a clear insight into the battle of the Federal Reserve against inflation.

Moreover, for almost a week, the Crypto Fear and Greed Index remained firm in the “Greed Territory” with a score of 68 out of a possible total of 100. It marks its highest level since November 2021.

The Crypto Fear and Greed Index aims to numerically present the current value of community “emotions” and “sentiments” community towards Bitcoin and the cryptocurrency market where 100 is the highest score.

As shared by Michael Saylor, the founder and executive chairman of Business Intelligence Firm, Microstrategy advocates for BTC as it leads the charge for cryptocurrency adoption as a strategic asset by corporations.

Microstrategy itself added Bitcoin worth Billions to its balance sheet where its current ownership is 140,000 BTC with a purchase price of $4.17 Billion and an average price of roughly $ 29.803. Thus, Microstrategy seems to have made gains on its investment. The company has been continuously increasing its BTC holdings since its first purchase in August 2020.

The Bitcoin price rolling up is an indication of its wide institutional and corporate adoption in the near future.

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