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

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

Bitcoin (BTC) has reached price highs that were last seen in mid-2022. The largest crypto by market cap has soared to $30,000 and set a new high for 2023, as per CoinGecko data. At the time of writing, Bitcoin stands at nearly $30,200, a price it had not touched since June 10, 2022.

In the course of the last 30 days, BTC recorded gains of almost 46%, achieving 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 experts had anticipated a surge in Bitcoin’s price to $30,000 as traders wait for the release of the United States Consumer Price Index (CPI) report on April 12. This report could unveil insights into the Federal Reserve’s battle against inflation.

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

Crypto market sentiment was reflecting “Greed” on April 11, according to the index. Source:

The Crypto Fear and Greed Index aims to quantify the current “emotions and sentiments” toward Bitcoin and the crypto market, with a score of 100 being the highest. The index hit a score of 68 on March 21, remaining the highest level since recording a score above 66 on November 16, 2021, a few days after Bitcoin’s all-time high of over $69,000 was noted on November 10, 2021.

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

Michael Saylor, founder and executive chairman of business intelligence firm MicroStrategy, has been a vocal Bitcoin advocate, championing corporations’ adoption of cryptocurrency as a strategic asset. MicroStrategy has accrued billions worth of Bitcoin, owning 140,000 BTC as of April 5, for a total purchase price of $4.17 billion.

At an average price of approximately $29,803 per coin, the latest price boost is a gain for MicroStrategy’s investment.

MicroStrategy has been steadily increasing its BTC holdings since August 2020, even in the midst of the ongoing crypto bear market.

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