Bitcoin BTC has attained price levels that were last seen in mid 2022, as the largest cryptocurrency by market capitalization crossed the $30,000 marking a new high for 2023.
According to data from CoinGecko Bitcoin has slightly surpassed the $30,000 mark and is currently trading at almost $30,200 a value it hasn’t attained since June 10, 2022.
Over the past 30 days, BTC has registered gains of almost 46% surging to its highest level in 10 months on April 11.
A 24hour chart displaying Bitcoin’s price rise of 6.5% to cross $30,000, Source – CoinGecko
Some crypto technical analysts had predicted that Bitcoin would reach the $30,000 mark once again. Crypto traders eagerly awaited the release of the United States Consumer Price Index CPI report on April 12. The report is expected to offer valuable insights into the Federal Reserve efforts to tackle inflation.
The Crypto Fear and Greed Index had been firmly entrenched in the Greed zone since last week with the latest update on April 11 showing a score of 68 out of a maximum of 100.
On March 21, the index also recorded a score of 68 marking its highest level since November 16, 2021, when it recorded a score of above 66, nearly a few days after Bitcoin recorded an all-time high of more than $69,000 on November 10, 2021.
Michael Saylor the founder and executive chairman of business intelligence firm MicroStrategy has been a vocal supporter of BTC and has been leading the charge for corporations to embrace cryptocurrency as a strategic asset.
As of April 5, MicroStrategy owns 140,000 BTC with a total purchase price of $4.17 billion. MicroStrategy has been steadily increasing its BTC holdings since its first purchase in August 2020 despite the ongoing crypto bear market.
With an average coin price of roughly $29,803 the recent price surge has resulted in a profit for MicroStrategy on its investment.
