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Bitcoin Price Exceeds $30,000 Again, Why?

Nicholas by Nicholas
June 21, 2023
in Crypto
0
Bitcoin Price Exceeds ,000 Again, Why?

Almost 1 month after failing this resistance, the price of Bitcoin (BTC) is back at the $30,000 level while the entire cryptocurrency market turns green. How to explain this increase? We take stock.

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Le prix du Bitcoin dépasse à nouveau 30 000 dollars, pourquoi ?

Bitcoin (BTC) back to $30,000

That’s it, just a few days after hitting the symbolic $25,000 mark, Bitcoin (BTC) price is back above $30,000. This is a first for more than a month:

🔴 FLASH: The #Bitcoin has just crossed the $30,000 mark again! 🔥

Less than a week ago, the #BTC was $25,000. pic.twitter.com/D8hafendyI

—Cryptoast (@CryptoastMedia) June 21, 2023

After a meteoric rise since the beginning of 2023, the cryptocurrency market benefited from the month of May and the adage “sell in may and go away” to breathe a little. Back to $25,000 late last week, some observers were unenthusiastic about a bullish rebound in Bitcoin before the end of the summer.

But as you know, Bitcoin doesn’t care about predictions. Despite a very complicated endogenous contextfueled by the multiple attacks by the Securities and Exchanges Commission (SEC) against Binance and Coinbase, thehe cryptocurrency market is doing remarkably well.

How can we explain it? To begin with, this afternoon was marked by a speech by the President of the American Federal Reserve. Before the Financial Affairs Committee of the House of Representatives and questioned on the monetary policy of the United States, Jerome Powell Reportedly Speaks Out About Cryptocurrencies. He would have explained that “Cryptocurrencies have shown resilience as an asset class”.

Presumably, this rise is more likely to come from the recent announcement by BlackRock, the world’s largest asset manager. Indeed, the firm filed a request to launch a spot Bitcoin ETF. If the US regulator accepts it, it would be the first of its kind.

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Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky in nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.

AMF recommendations. There is no guaranteed high return, a product with high return potential involves high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital.

To go further, read our Financial Situation, Media Transparency and Legal Notices pages.

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Journalist for Cryptoast, I strive to dissect every detail of the exciting world of cryptocurrencies and make it accessible and understandable to as many people as possible.

Lilian Aliaga

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