Bitcoin cryptocurrency reached an annual maximum

On the morning of March 30, the flagship cryptocurrency tested above $ 29,000. According to the Binance cryptocurrency exchange, the price of BTC reached $ 29,184 at its peak, which is the level of June 2022.

At the time of writing, the quotes of the main asset have undergone a correction — bitcoin is trading at $ 28,615 with a market capitalization of $ 553.1 billion. Overall, bitcoin has risen by 23% over the past 30 days. Cryptocurrencies are showing better dynamics than traditional financial assets such as gold, stocks, and cash.

However, the cryptocurrencies in the top 10 did not show significant growth. According to CoinGecko, the total capitalization of the cryptocurrency market reached $ 1.22 trillion, up 2.3% over the day.

«Despite the instability in the banking sector, the Fear and Greed Index continues to indicate investor optimism.

However, despite the flagship cryptocurrency’s attempts to regain relative stability, crypto skeptics still predict a sharp decline in the BTC. Peter Schiff recently voiced a fresh pessimistic forecast for bitcoin. According to the analyst, the rate of the first cryptocurrency will fall to 0 in the future. «Bitcoin will still fall to zero. It will just be a long way down,» Schiff said.

Contrary to Schiff, most experts predict growth for BTC. This makes sense, since since the beginning of 2023, bitcoin has risen in price by more than 60%. Thus, Real Vision CEO Raul Pal believes that the BTC will reach $ 50,000 this year, and Ryan Selkis, CEO of the analytical company Messari, is convinced that the main digital asset will even be able to cross the $ 100,000 mark.