Saturday, 25 May 2024

Crypto News

Bitcoin hits $30K to mark highest price since June 2022

Bitcoin hits $30K to mark highest price since June 2022

Bitcoin (BTC) has hit price highs not seen since mid-2022 with the largest crypto by market cap touching $30,000 and setting a new high for 2023.

According to CoinGecko data, Bitcoin has slightly surpassed $30,000 and is at nearly $30,200 at the time of writing, a price it hasn’t reached since Jun. 10, 2022.

In the last 30 days, BTC recorded gains of nearly 46%, rising to its highest level in ten months on April 11.

A 24 hour Bitcoin price chart showing its 6.5% gain to surpass $30,000. Source: CoinGecko

Some analysts predicted that it would regain its $30,000 price tag as traders await the United States consumer price index (CPI) report on April 12 which will give insight into the Federal Reserve’s battle against inflation.

Since last week, the Crypto Fear and Greed Index has remained firmly within the “Greed” territory, with the latest April 11 update showing a score of 68 out of a possible total of 100.

Related: Bitcoin price will hit this key level before $30K, survey says

The Crypto Fear and Greed Index aims to numerically present the current “emotions and sentiments” towards Bitcoin and the cryptocurrency market, with the highest score being 100.

The index also hit a score of 68 on March 21, marking its highest level since it recorded a score above 66 on Nov. 16, 2021, just days after Bitcoin’s all-time high of over $69,000 was recorded on Nov. 10, 2021.

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