Bitcoin hits $30K, its highest price since June 2022
Bitcoin hits $30K, its highest price since June 2022, surpassing $30,000 for the first time. According to CoinGecko data, Bitcoin has gradually surpassed 30k. Thus, ,it is at nearly 30,200 at the time of writing, marking its highest level in ten months on April 11.
In the past 30 days, BTC recorded gains of almost 46%, which some analysts predicted would happen as traders awaited the United States Consumer Price Index report on April 12. Therefore, it would give insight into the Federal Reserve’s battle against inflation.
Crypto Fear and Greed Index remain in “Greed” territory.
The Crypto Fear and Greed Index has remained firmly within the Greed territory since last week; on April 11, the latest update showed a 68 out of 100. The index aims to numerically present the current emotions and sentiments, towards Bitcoin and the cryptocurrency market, with the highest level since it recorded a score above 66 on November 16, 2021. The days after Bitcoin’s all-time high of over $69,000 was recorded on November 10, 2021.
MicroStrategy gains from Bitcoin investment.
Michael Saylor is the founder and executive chairman of a MicroStrategy business intelligence firm. It has been an outspoken advocate for BTC. So, it has been leading the charge for a corporation to adopt cryptocurrency as a strategic asset. It has added billions worth of Bitcoin to its balance sheet. It currently owes 140,000 BTC on April 5 for a total procure price of $4.17 billion.
Factors Contributing to Bitcoin’s price surge
- Increased institutional adoption
- Rising interest from retail investors
- Concerns about inflation
With an average price per coin of roughly $29,803, the latest price jump means MicroStrategy has made a gain on its investment. It has steadily increased its BTC Holdings since its first purchase in August 2020, even with the ongoing crypto bear market.
Caution Advises for Investors
Moreover, the current surge in Bitcoin can be attributed to several factors. It includes increased institutional adoption, rising interest from retail investors and growing concerns about inflation.
While some analysts remain cautious about the potential risks associated with cryptocurrencies, others believe that Bitcoin and other digital assets could continue seeing significant growth in the coming months and years.
As always, investors should exercise caution and research before making investment decisions.
Conclusion
The recent gains of nearly 46% in the last 30 days can be attributed to various factors. Bitcoin hits $30K, its highest price since June 2022. It includes increased institutional adoption, rising interest from retail investors and growing concerns about inflation.
Michael Saylor’s MicroStrategy has been leading corporations to adopt cryptocurrency as a strategic asset, with the company holding 140,000 BTC as of April 5 for a total purchase price of $4.17 billion.