July 24, 2024
Bitcoin News

Bitcoin Hits $30K to Mark Highest Price Since June 2022

Bitcoin $30,115 has reached price highs not seen since mid-2022, with the largest cryptocurrency by market capitalization surpassing $30,000 and setting a new high for 2023.

According to CoinGecko data, Bitcoin has topped $30,000 and is now worth over $30,200 at the time of writing, a level not seen since June 10, 2022. BTC gained roughly 46% in the last 30 days, reaching its highest level in ten months on April 11.

A 24-hour Bitcoin price chart demonstrating its 6.5% gain to $30,000. CoinGecko is the source.

As traders await the United States Consumer Price Index (CPI) report on April 12, which will provide insight into the Federal Reserve’s war against inflation, some analysts expected that it will reclaim its $30,000 price tag.

The Crypto Fear and Greed Index has remained solidly in “Greed” area since last week, with the most recent April 11 update showing a score of 68 out of a possible total of 100. The Crypto Fear and Greed Index tries to present current “emotions and sentiments” toward Bitcoin and the cryptocurrency market numerically, with a maximum score of 100.

The index also reached a score of 68 on March 21, the highest since it surpassed 66 on November 16, 2021, just days after Bitcoin reached an all-time high of over $69,000 on November 10, 2021. Michael Saylor, the founder and executive chairman of business analytics firm MicroStrategy, has been a vocal supporter of BTC and has led the drive for enterprises to embrace cryptocurrencies as a strategic asset.

MicroStrategy has added billions of dollars in Bitcoin to its balance sheet, and as of April 5, it owned 140,000 BTC for a total purchase price of $4.17 billion.

With an average price of around $29,803 per coin, the recent price increase means MicroStrategy made a profit on its investment.

Despite the ongoing crypto bear market, MicroStrategy has consistently raised its BTC holdings since its initial purchase in August 2020.