Bitcoin increases over $ 30,100: Here are the driving factors

Von Sophie Müller

  • It is the first time since June last year that the Bitcoin price is over $ 30,000.
  • The increase takes place after one -month consolidation by $ 28,000.
  • Analysts had a level of support at $ 25,000 and a level of resistance at $ 30,000.

The Bitcoin Prize rose to over $ 30,100 in the early Monday and was most of the morning above this level. A daily high of $ 30,160.48, but was traded at $ 30,126 at the time of printing.

It is the first time since June 2022 that Bitcoin has reached $ 30,000 and thus cemented the Bull Run, which the cryptocurrency started at the beginning of the year.

what drove the Bitcoin price over $ 30,000

The BTC Prize has increased by more than 46 % to a ten-month level in the past few months.

Several analysts had predicted that Bitcoin would regain its price of $ 30,000, while the dealers are waiting for the United States' Consumer Prize Index on April 12th. The CPI should give an insight into the battle of the Federal Reserve against inflation.

The Crypto Fear and Greed Index stayed within the "Greed" region in the last week, with the Newest update possible. The Crypto Fear and Greed Index numerically shows the "emotions and feelings" compared to the cryptocurrency market and Bitcoin.

The 68 value of the Crypto Fear and Greed Index is the highest value that Bitcoin has ever achieved since he reached 66 points on November 16, 2021, which had reached his all-time high of over $ 69,000.

Although the Crypto Fear and Greed Index-Score is high, a Majority of the technical indicators still point to a strong upward trend, which indicates a possible long -term upward trend in the next few days.

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Source: Coinlist.me