Bitcoin's Back: The Rise to $30,000 and What It Means for Investors

Bitcoin's Back: The Rise to $30,000 and What It Means for Investors

Bitcoin has just passed an important threshold by crossing the $30,000 mark.

The digital gold has experienced a real resurgence in interest since the beginning of 2023. It had already reached $25,000 in mid-March, in the midst of complicated banking news. And even if things seem to have calmed down, cryptocurrency continues its merry way.

Nothing seems to be able to stop this new rise in Bitcoin. While the American authorities continue to put pressure on the sector, in particular by attacking the flagship of the Binance exchanges, Bitcoin is in good health. The price of the queen of cryptocurrencies has thus just crossed the symbolic bar of 30,000 dollars, even rising to 30,450 dollars yesterday.

A rise that was expected in recent weeks, but which is nonetheless unprecedented given the shape of Bitcoin over one year. Indeed, you have to go back almost a year, to June 10, 2022, to see the cryptocurrency created by Satoshi Nakamoto post such a price, before a fall that lasted the entire second half of 2022.

Is the United States, far from Bitcoin?

The continuous rise of Bitcoin in 2023 could well show the maturity of the asset. Because it takes place at a particular moment of financial activity, with a constant raising of the key rates of the world central banks, decided in order to fight inflation. The cost of money is therefore greater, which tends to push it towards safer investments. Could Bitcoin's current growth mean that digital gold is now also considered 'safer'?

A hypothesis that makes all the more sense as the largest economy in the world, the United States, continues to attack cryptocurrencies, which could have affected the price of Bitcoin. However, for the moment, the only consequence of this regulatory harassment on the part of Washington seems to be to push the industry beyond American borders. "The United States has left a void that other countries are eager to fill," said Coinbase executive Daniel Seifert. Definitively?

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