As per reports, Bitcoin has set a new record for 2023 in the crypto market by achieving a market cap of $30,000, stated Cointelegraph. Reportedly, the Bitcoin price rate hasn’t risen since the middle of last year.
As reported by Cointelegraph, in comparison with the last 30 days Bitcoins saw a rise of about 46% on April 11, 2023. Sources revealed that Bitcoin might get back its $30,000 cost rate. Furthermore, the traders might be waiting for the United States Consumer Price Index (CPI) report which will be released on April 12, 2023, and can give insight into the Federal Reserve’s battle against inflation, added Cointelegraph.
It is expected that the Crypto Fear and Greed Index may present the current “emotions and sentiments” toward Bitcoin and the cryptocurrency market in numbers, with the highest score being 100, Cointelegraph highlighted.
Experts believe that the rise in the price of Bitcoin can be related to the gain achieved by MicroStrategy, a business intelligence firm, after owning 140,000 BTC on April 5, 2023, for a total purchasing cost of $4.17 billion, Cointelegraph concluded.
(With insights from Cointelegraph)