“Regulatory clarity encourages more adoption of Bitcoin amid frenetic trading in the crypto industry,” said MicroStrategy co-founder Michael Saylor, quoted by Cointelegraph.
Before bitcoin price surged back above $30,000, this one coin had fallen sharply in 2022. Bitcoin’s market cap fell 64 percent, from a price of $50,000 per coin in 2021 to $16,621 in November 2022.
This drop triggered a bitcoin collapse alarm in the global market. Even though Bitcoin has risen despite the threat of a bear market, several analysts have urged investors to be cautious as Bitcoin’s movements are very volatile.
FYI, over the past week, the price of bitcoin has surged as much as 0.64 percent to $30,523. Be the best performing asset in the first quarter of 2023.
