Already hitting new price highs since mid-2022, the largest cryptocurrency by market cap touched $30,000 and set a new high for 2023. According to data from CoinGecko, Bitcoin is just above $30,000 and is nearing $30,200 at the time of writing, a price it hasn't reached since June 10, 2022.
Over the past 30 days, BTC recorded a gain of almost 46%, reaching its highest level in ten months on April 11. Some analysts predict it will revisit the $30,000 price tag as traders await the April 12 U.S. consumer price index (CPI) report, which will provide insight into the Fed's battle with inflation.
The Crypto Fear and Greed Index has remained firmly in the “greed” band since last week, with the latest update on April 11 showing a score of 68 out of 100. The Crypto Fear and Greed Index seeks to provide a numerical representation of the current "sentiment and sentiment" towards the Bitcoin and cryptocurrency markets on a maximum score of 100.
The index also hit 68 on March 21, its highest level since scoring over 66 on November 16, 2021, just days after Bitcoin hit an all-time high of over $69,000 on November 10, 2021 back. Michael Saylor, founder and executive chairman of business intelligence firm MicroStrategy, has been an outspoken supporter of BTC and has been at the forefront of pushing businesses to use the cryptocurrency as a strategic asset.
MicroStrategy has added billions of dollars worth of bitcoin to its balance sheet, and as of April 5, currently holds 140,000 BTC for a total purchase price of $4.17 billion. With an average price of around $29,803 per coin, the latest price increase means MicroStrategy has paid off on its investment.
Since its first purchase in August 2020, MicroStrategy has been steadily increasing its BTC holdings, even amidst the ongoing cryptocurrency bear market.
