Bitcoin rallies past key $30,000-mark

economictimes.indiatimes.com:

Bitcoin's price has surged past the psychologically significant $30,000 mark for the first time since June 2022, providing a sense of relief to Indian crypto investors who have faced significant losses due to market volatility and several high-profile failures such as that of the Terra ecosystem and the collapse of FTX over the past year. The leading digital currency has surged 6.29% in the past 24 hours to reach $30,160 as of 2300 IST on Coinmarketcap. While it has risen by 72.62% in the last 90 days, it remains down by 23.82% year to date. Bitcoin's price spent several weeks consolidating around the $28,000 mark before recently breaking through, continuing its bull run that began at the start of the New Year. «It's a big positive for serious Indian crypto investors who are in it for the long haul,» said Vishal Gupta, a Noida-based crypto investor and influencer.

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Bitcoin dominates the cryptocurrency market with a $581.9 billion market cap. Experts say that 2023 has been a good year for Bitcoin, and the latest surge to $30,000 is a clear indication of its growing mainstream adoption and investor confidence. «As we witness this digital asset's ascent, it is important to remember the underlying technology powering it and the potential it holds to reshape our financial future. The potential of VDAs to revolutionise traditional systems is becoming more apparent with each passing day,» said Sumit Gupta, CEO