The Bitcoin price has seen another price explosion and could almost reach the value of 27,000 dollars. BTC scratched the mark with the jump above the resistance at $25,000. The breakout is a continuation of the bullish market of the last few weeks. Is the $30,000 due soon? When will Bitcoin reach 30K?
How has the Bitcoin price moved in the last few days?
After the bank crash in the USA, the Bitcoin price saw a massive increase . After falling below $20,000 when the market was shocked by bank failures, Bitcoin price recovered extremely quickly. BTC bounced back above $24,000.
After this massive jump, Bitcoin was able to climb above the $25,000 mark for the first time in 2023. However, this increase did not last long and the price fell back to $24,500.
There has been an eruption in the last 24 hours. The Bitcoin price rose above $26,000 and has already scratched the $27,000 mark several times. This time the increase stabilized.
Why did the Bitcoin price rise?
In the last few hours, the consumer price index in the US and the US inflation numbers have been released. This CPI increased by 0.4%. Inflation is at 6%. These numbers are positive for bitcoin. The bitcoin price can benefit from persistently high inflation and the difficulty of predicting the central bank’s response to inflation.
Bitcoin can benefit from the crisis in the traditional financial market. After all, after the bank crashes, trust is falling more and more, especially in the USA. Bitcoin becomes the new reserve currency and competes with gold.
When will Bitcoin reach 30K?
With the massive rally, the way to $30,000 could be clear. Unfortunately, the price recently fell after breaking through $27,000. This brief drop in prices can be a simple profit-taking wave as Bitcoin increased from the low of $19,500 to the current $26,800.
In the coming weeks, $30,000 seems realistic. More and more people distrust the banks and put their investments in Bitcoin. Now we must eagerly await the results of the next FED meeting. Will the key interest rate be massively increased, which will damage Bitcoin, or will we see monetary policy being relaxed again, which could cause the Bitcoin price to explode. If the uptrend continues higher, Bitcoin is expected to reach 30K by the end of the month of March or the beginning of April 2023.
Every Wednesday going forward, you can tune in to the Podcast on Spotify , Apple and YouTube. The episodes are perfectly tailored for a duration of 20-30 minutes to quickly and effectively familiarize you with new topics in a fun setting on the go.
Subscribe & never miss an Episode
Spotify– Amazon – Apple – YouTube
- Big News: Ripple Price is about to TRIPLE? This News Confirms…
- Bitcoin Price Analysis: Can Bitcoin reach 50K soon?
- Bitcoin Price Prediction: 25K reached, what’s next? BTC at 30K?
- What’s Happening to Bitcoin Price? A Secret formation in place?
- THIS Bitcoin Chart is Reassuring! Buy Bitcoin TODAY and Profit?
- Bitcoin Price EXPLODES as US Banks risk liquidity crunch…BTC 30K?
- Shiba Inu to Reach 1$ soon? This New Upcoming Development Proves it Right
- Why is Bitcoin Crashing? Will Bitcoin crash to 10K?
- Polkadot’s DOT Token: Marching Forward to New Heights in 2023?
- Breaking: Polygon (MATIC) Defies the Odds, Set to Hit $2 Mark?
- Ripple Price Prediction – How High will XRP reach in 2050?
- Tron’s Ambiguous Future: How high can TRON go?
- THIS Trader believes Bitcoin will CRASH to $10,000…is this Possible?
- Can Shiba Inu Price Reach 10 Cents?
- Crypto Prediction for BTC, ETH and MATIC for Feb 2023…Not to MISS!
- Can Bitcoin reach $1,000,000 EVER?
- Solana Price Prediction for February 2023: THIS Price is very likely!
- Shiba Inu Price Prediction: How High can SHIB Price reach by 2030?
- Dogecoin Price Prediction for the Next Bullrun…DOGE at 1$ in sight?
- Crypto Millionaire: Buy THESE Cryptos before they BOOM in 2023?
- Bitcoin hits $60,000 in THIS country…Why and What next?
You might also like
More from Bitcoin News
What is the Bitcoin CME gap?
Trading Bitcoin can follow many strategies. Do you use FA or TA? Are you a day trader, swing trader, scalper, …
Silvergate Crypto Bankruptcy: Why did Silvergate Crash?
Silvergate crypto bank has announced that it will begin the process of "winding down" its operations and liquidating its bank. …
THIS Trader believes Bitcoin will CRASH to $10,000…is this Possible?
A Twitter user by the name of "Profit Blue" believes Bitcoin will crash to $10,000. Will this realize soon? Will …