Bitcoin Trades Above 30K, 10-Month High
Bitcoin touched a fresh 10-month high at $30,438 on Tuesday before last fetching $30,053, after breaking free of recent ranges on Monday. Bitcoin had been attempting to break the $30,000 level, a psychological level, for three weeks
Some analysts had predicted price acceleration but the digital token had been stuck between about $26,500 and $29,400 for the previous three weeks.
Its $30,000 price level is the first time since June 2022. It is now approaching a long-term resistance level. Market prediction indicates that the weekly outlook for Bitcoin is strongly bullish due to several reasons, including the BTC price breaking out from a descending resistance line.
Other cryptocurrencies are also on an uptrend but Ethereum’s price failed to clear the $1,925 resistance zone against the US Dollar.
ETH is struggling to test $2,000 while Bitcoin gained pace and rallied above $30,000. Data showed that Ethereum attempted a fresh increase but struggled above the $1,925 zone.
Crypto investors are eagerly anticipating a major revamp to the Ethereum blockchain this week that is set to allow them to gain access to more than $33 billion of ether currency.
Since last week, the Crypto Fear and Greed Index has remained firmly within the “Greed” territory, with the latest April 11 update showing a score of 68 out of a possible total of 100.
The Crypto Fear and Greed Index aims to numerically present the current “emotions and sentiments” toward Bitcoin and the cryptocurrency market, with the highest score being 100.
The index also hit a score of 68 on March 21, marking its highest level since it recorded a score above 66 on Nov. 16, 2021, just days after Bitcoin’s all-time high of over $69,000 was recorded on Nov. 10, 2021.
The world’s largest cryptocurrency topped $30,000 Monday night for the first since June 10, 2022, according to trading data show, peaking at $30,321 before pulling back.
Bitcoin is still down over 57% from an all-time high in November 2021. Ethereum also rallied and was closing in on the $2,000 level for the first time since last August. # Bitcoin Rises to 30K, 10-Month High
