This year has proved to be quite fruitful for Bitcoin, as the cryptocurrency has gained almost 84% so far, making it the top-performing asset in the related market in the first quarter of 2023.
On Tuesday, April 11, the world's first decentralized cryptocurrency Bitcoin (BTC) has finally managed to breach the $30,000 mark for the first time since June 2022.
This latest rally definitely indicates a renewed and still ever-growing interest in cryptocurrencies amongst investors from all over the world.
In the Asian trade, Bitcoin peaked at $30,438 and was last up 1.96% at $30,233. It has grown almost 6% since the beginning of the month, after rising 23% in March.
Tim Frost, CEO of digital asset wealth platform Yield App, said:
"The recent surge in bitcoin's price is like a breath of fresh air after a long, cold crypto winter. This renewed optimism could be attributed to an anticipated shift in the U.S. Federal Reserve's monetary policy, which is expected to create a more stable, and hopefully predictable, environment."
As of April 12, 2023 Wednesday at 3pm CET, the Bitcoin price is $30,278.
The Miraculous Rise of Bitcoin
One big factor that could possibly contribute to Bitcoin's continuous rise in value is - the increasing mainstream adoption of the cryptocurrency.
Major financial institutions such as Visa and MasterCard have announced plans to support cryptocurrency transactions, and major companies like Elon Musk's Tesla have invested heavily in Bitcoin and other types of cryptocurrencies.
As more people become comfortable and confident with the idea of using cryptocurrency in their everyday lives, the demand for Bitcoin could possibly increase, therefore resulting to a rise in its value.
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