Bitcoin

The <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">cryptocurrency market</a> has shown resilience in the face of heightened <a href="https://finbold.com/category/regulations-news/" rel="noopener noreferrer nofollow">regulatory</a> scrutiny, driven mostly by its flagship asset – Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) – which has added nearly $30 billion to its market capitalization over the course of a single day, indicating a positive momentum that could push its price toward $30,000.As it happens, Bitcoin’s market cap has gone from $519.76 billion to $548.60 billion in the last 24 hours, which means that it has grown by $28.84 billion or 5.6%, according to the latest <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">data</a> retrieved by Finbold from the <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> monitoring platform <a href="https://finbold.com/guide/best-crypto-data-websites/#CoinMarketCap" rel="noopener noreferrer nofollow">CoinMarketCap</a> on March 29.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/87af157676534681b769c3cc26ef8f93.png" />Bitcoin 24-hour market cap. Source: <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">CoinMarketCap</a><h2 id="header-0">Bitcoin price analysis</h2>During this time, the price of the maiden decentralized finance (<a href="https://finbold.com/guide/liquidity-mining-definition/" rel="noopener noreferrer nofollow">DeFi</a>) asset has gained 5.28%, at press time changing hands at $28,364. Its current price also represents an increase of 0.35% over the last week, adding up to the monthly boost of 20.49% and over 70% since the year’s turn, as charts indicate.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/0140771f1f4444d2b843ce1584a5ff35.png" />Bitcoin 24-hour price chart. Source: <a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">Finbold</a>Meanwhile, <a href="https://finbold.com/topic/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> is demonstrating a ‘strong buy’ sentiment at 16 at its one-day <a href="https://www.tradingview.com/symbols/BTCUSDT/technicals/?exchange&#61;BINANCE" rel="noopener noreferrer nofollow">technical gauges</a> over at the <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> and <a href="https://finbold.com/guides/finance/" rel="noopener noreferrer nofollow">finance</a> tracking platform TradingView. This sentiment is summarized by the <a href="https://finbold.com/guide/stochastic-oscillator-definition/" rel="noopener noreferrer nofollow">oscillators</a> standing in the ‘buy’ zone at 2 and moving averages (<a href="https://finbold.com/guide/moving-average/" rel="noopener noreferrer nofollow">MA</a>) pointing at a ‘strong buy’ at 14.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/f5258f72cd394deda3f5e0482c49a754.png" />Bitcoin 1-day sentiment gauges. Source: <a href="https://www.tradingview.com/symbols/BTCUSDT/technicals/?exchange&#61;BINANCE" rel="noopener noreferrer nofollow">TradingView</a>It should be mentioned that Bitcoin’s odds of a <a href="https://finbold.com/guide/bull-market-definition/" rel="noopener noreferrer nofollow">bullish</a> rally are also increased by its <a href="https://twitter.com/MatthewHyland_/status/1640963960395448320" rel="noopener noreferrer nofollow">break out</a> of the relative strength index (<a href="https://finbold.com/guide/rsi-indicator/" rel="noopener noreferrer nofollow">RSI</a>) downtrend, as the asset <a href="https://twitter.com/CanteringClark/status/1640884264085381127" rel="noopener noreferrer nofollow">holds the $27,200 level</a> despite the <a href="https://finbold.com/guide/chart-patterns/" rel="noopener noreferrer nofollow">chart pattern</a> behavior that could be described as <a href="https://twitter.com/CredibleCrypto/status/1640968559915601925" rel="noopener noreferrer nofollow">choppy</a>.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/766425c371db4fd0a908b13bc8aa4647.jpg" />Bitcoin’s break out of RSI downtrend. Source: <a href="https://twitter.com/MatthewHyland_/status/1640963960395448320" rel="noopener noreferrer nofollow">Matthew Hyland</a>Moreover, venture capitalist and ex-CTO at <a href="https://finbold.com/guide/cryptocurrency-trading/" rel="noopener noreferrer nofollow">crypto trading</a> platform <a href="https://finbold.com/review/coinbase-review/" rel="noopener noreferrer nofollow">Coinbase</a>, Balaji Srinivasan, has projected that Bitcoin would reach $1 million within the next 90 days as the U.S. economy <a href="https://finbold.com/r-kiyosaki-warns-u-s-inflation-is-now-systemic/" rel="noopener noreferrer nofollow">enters hyperinflation</a>. Although his prediction has been <a href="https://finbold.com/will-bitcoin-hit-1-million-in-90-days-expert-analyzes-balajis-forecast/" rel="noopener noreferrer nofollow">rebuked</a> by Matthew Kratter, founder of the Trader University YouTube channel, he does agree it is “directionally correct.”At the same time, Finbold has reported on Bitcoin’s market cap <a href="https://finbold.com/banking-crisis-fuels-bitcoin-to-surpass-visa-and-jpmorgan-in-market-capitalization/" rel="noopener noreferrer nofollow">surpassing</a> that of traditional finance behemoths such as payment platform Visa (NYSE: <a href="https://finbold.com/stock/visa-v/" rel="noopener noreferrer nofollow">V</a>) and <a href="https://finbold.com/guides/banking/" rel="noopener noreferrer nofollow">banking</a> giant <a href="https://finbold.com/guide/buy-bitcoin-with-chase/" rel="noopener noreferrer nofollow">JPMorgan Chase</a> (NYSE: <a href="https://finbold.com/stock/jpmorgan-chase-stock-jpmj/" rel="noopener noreferrer nofollow">JPM</a>), as well as <a href="https://finbold.com/bitcoin-outperforms-97-of-all-sp-500-companies-in-2023/" rel="noopener noreferrer nofollow">outperforming</a> the year-to-date (YTD) returns of 97% of all S&amp;P 500 companies in 2023.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

Bitcoin adds $30 billion to its market cap in a day; Is BTC price set to hit $30,000?

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