Bitcoin Price Surges Above $30,000 – Crypto Bulls Getting Excited
Bitcoin rose over 4.6% to near $30,000, while Ethereum surged above $1,900 for the first time since August.
The gains are part of a broader rally in the crypto market that began at the start of the year, supported by a range of bank runs that have called into question the resilience of centralized banking options.
This has led to increased interest in de-dollarization, with countries buying gold and BTC to gain independence from the U.S.
On Wall Street, Monday’s trading session saw a mixed bag, with U.S. stock indexes remaining relatively unchanged. Investors have focused on Ethereum’s Shapella upgrade in the crypto market, which will go into effect on April 12.
Bitcoin’s rise has been attributed to interest rate hikes that are no longer viable, causing inflation to become unhinged. Meanwhile, Coinbase’s Co-Founder and CEO tweeted that his firm plans to integrate Bitcoin’s Lightning Network.
READ MORE: Bitcoin: Almost $160 Billion Worth of BTC Remain Inactive for Years
According to industry veteran Samson Mow, Bitcoin has demonstrated resilience, with the price returning to $30k despite efforts to stop its growth.
In addition to Bitcoin and Ethereum, other cryptocurrencies such as XRP, Cardano, and Solana have also experienced gains.
There has been a significant rise in the number of cryptocurrency wallets holding at least 1 BTC, with the figure coming close to one million holders.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
