Bitcoin surpasses the $30,000 barrier

📌After a very complicated year (it lost more than 70% of its value in just one month) for cryptocurrencies, it seems that the enthusiasm for this type of assets is picking up again, as the main reference in the crypto world, Bitcoin, has managed to surpass the $30,000 barrier. The crypto landscape has changed dramatically at the beginning of the year, and Bitcoin has been appreciated by more than 70%.

📌This change of scenery began in early March, when SVB and banks of the likes of Credit Suisse had to be bailed out due to loss of customer confidence. This puts the many risks to the global banking system on the table, and with Bitcoin being an alternative to the traditional financial system, its price has skyrocketed in recent weeks. In addition, the Fed has hinted that Hawkish policies are coming to an end, which is also boosting the price of Bitcoin.

📌Now it seems that the new macroeconomic situation may play in favor of cryptocurrencies, even so, we must not forget that last year’s Luna and FTX scandals are still present in the market, and that any bad news can greatly affect the price of bitcoin.

Source: Investing