The price of the leading cryptocurrency “Bitcoin” crossed the $30,000 mark for the first time in ten months in morning trading on Tuesday, amid calming fears of the US banking crisis last month.
According to the cryptocurrency platform “Coinbase”, the price of Bitcoin, which stood at $28.9k in Monday’s transactions, reached $30.4k per unit as of 06:00 GMT.
According to the historical data published on Coinbase, the currency price recorded in morning transactions today is at its highest level since last June 10 transaction, according to Anadolu Agency.
The increase stemmed from waning fears over the US banking crisis at a time when investors were becoming more optimistic about the US Federal Reserve’s monetary policy.
According to the statements of experts on Wall Street, it has become clear that the market is headed for a slowdown in economic growth and thus the Central Bank’s monetary policy to loosen (lower interest rates) throughout 2023.
Cryptocurrency markets predict that a lot of liquidity will be injected into the cryptocurrency market as a result of loosening monetary policy and that Bitcoin will be the best performing asset for 2023.
The market cap of cryptocurrencies rose 1.3 percent in morning trading today, rising from $1.186 trillion on Monday to $1.202 trillion.
