Cryptocurrencies have been on the rise with Bitcoin experiencing an explosive start to the week, breaking beyond the $30,000 mark for the first time in over nine months. Despite a recent drawdown that dragged its price back below $30,000, indicators suggest the slowdown is only temporary. This is due to investors opting to fill up their bags with Bitcoin and moving large sums of coins out of exchanges, showing that they are settling in for a longterm hold. Additionally, the Bitcoin Fear & Greed Index continues to sit at a high score of 65 indicating a high level of greed in the market. As long as the current bullish sentiment remains, Bitcoin is likely to continue to receive support at the $30,000 level and make strides towards $35,000.
Alina Sanders
- 2023-04-12
Bitcoin Breaks Beyond the $30,000 Mark
Bitcoin is experiencing an explosive start to the week having broken beyond the $30,000 mark for the first time in over nine months. Despite a recent drawdown, investors are indicating a longterm hold and the Bitcoin Fear & Greed Index continues to sit at a high score of 65, indicating a high level of greed in the market.
