Bitcoin (BTC) returns to $30k for the first time since June 2022
Analysis and predictions

Bitcoin (BTC) returns to $30k for the first time since June 2022

Bitcoin (BTC) surpassed $30,000 on Tuesday around 4am. The price of the crypto had not reached this level since June 2022. As for Ether, the price is close to $2,000.

At the time of writing, the price is at $29980, it remains to be seen whether the king of cryptos will continue its bullish rally, or whether it will engage in a price correction after months of rise, the market will decide. In any case, Bitcoin is now up more than 80% since the beginning of the year.

The entire cryptocurrency market is in the green. Ethereum (ETH) and Binance Coin (BNB) are up 3.5% and 4.5% respectively to $1924 and $327. As for the global market capitalization, it is now over $1230 billion. The Ethereum (ETH) price is timidly following the rise of the Bitcoin price with the ETH price approaching the symbolic price level of $2000.

Despite the rally that began in 2023, Bitcoin is still down over 50% from its ATH reached in November 2021.

A crypto sector currently in the crosshairs of U.S. regulators who are precisely trying to restrict the general public’s access to buying Bitcoin (BTC) and cryptocurrencies, as we have seen in various articles.

The same is true in the UK, where some major banks are now imposing restrictions on customers who buy bitcoin and cryptocurrencies.

Repressive policies that contrast with some countries that instead support the adoption of cryptocurrencies.

Hong Kong, China’s autonomous special administrative region, is thus actively preparing to set up a crypto hub in Asia.

Bitcoin at 30k is very important for both technical and fundamental reasons. The resistance built up for three weeks in a row and finally broke down. This is the first time we’ve broken through this level since Terra and Three Arrows Capital collapsed,” commented Mati Greenspan, the boss of Quantum Economics, on Bloomberg.

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