Bitcoin grew by 5% per day, reaching $ 30,000 for the first time since late April

The flagship cryptocurrency continued to grow, reaching $ 30,000 — the first time since late April. According to CoinGecko, BTC $56,050.60 Bitcoin -2.01% Market capitalization $1.11 trillion VOL. 24 hours $4.29 billion grew by 5% per day and 21% over the past week. At the time of writing, BTC is trading for $ 30,200.

Cryptocurrency analysts believe that the main reason for the rapid growth of the main digital asset is BlackRock’s application to create an exchange-traded fund (ETF) bitcoin. The bitcoin ETF will track the underlying market price of the cryptocurrency.

Investors are optimistic about the prospects for BlackRock and other large institutional companies to participate in the digital asset sector. Cryptocurrency supporters are confident that this will give investors access to bitcoin without the need to own the underlying asset.

After BlackRock’s announcement, many other asset management firms filed their own ETF applications, including WisdomTree. For now, investors are closely watching macroeconomic indicators to try to predict the direction of the cryptocurrency market.

«The number of announcements of spot bitcoin ETFs from major organizations has definitely brought bullish optimism back to the cryptocurrency markets ,» commented Vijay Aiyar, Head of International Markets at CoinDCX.

Experts are cautiously optimistic about the growth of the BTC rate, despite the negative news for the crypto sector. The market has not yet recovered from the scandal of the FTX exchange collapse and the tightening of regulation that followed. Currently, the US Securities and Exchange Commission (SEC) is waging a «war» with the largest cryptocurrency exchanges — Binance and Coinbase.