Tomiwabold Olajide
Bitcoin (BTC) has surpassed the crucial $30,000 mark for the first time since June 2022
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Bitcoin broke through $30,000 for the first time since June last year, and Max Keizer, a pro-bitcoin advocate and crypto podcaster, says the leading cryptocurrency is on a fun path to $220,000.
This wouldn’t be the first time the Bitcoin proponent has spoken of a $220,000 Bitcoin price prediction. He has expressed that optimism on a number of occasions over the past year and it continues this year. As reported, Keizer predicted that the $220,000 price prediction for Bitcoin would come in a jiffy.
The largest cryptocurrency by market cap, Bitcoin, broke through the crucial $30,000 mark for the first time in 10 months on Tuesday, as investors increased bets that the Federal Reserve will soon end its aggressive monetary tightening campaign. This move contributed to the cryptocurrency’s steady rise since January. Currently, the largest cryptocurrency by market cap is up 86% year-to-date.
The influx of investors into Bitcoin following the banking turmoil may have contributed to this positive narrative.
Despite the low volume, crypto investment products saw inflows of $57 million over the past week, with the majority of the funds going to Bitcoin, according to digital asset manager CoinShares. The report indicated that this turns digital asset inflows positive again for the year.
Bitcoin is up 6.49% at the time of writing to $30,125 after hitting daily highs of $30,430. It’s up about 6% since the beginning of the month after rising 23% in March.
In the wake of the turmoil in the banking sector in March, investors are awaiting the release of the US inflation report on Wednesday to determine the Federal Reserve’s next course of action.
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