Bitcoin exceeds $30,000 for first time since June

ALBAWABA - The price of the digital currency Bitcoin exceeded $30,000 for the first time in 10 months.

The Bitcoin price reached $30,400 per unit early Tuesday morning, up from $28,900 in Monday's trading, according to cryptocurrency platform Coinbase.

The market value of cryptocurrencies rose in morning trading today by 1.3 percent to $1.202 trillion, up from $1.186 trillion on Monday.

With bitcoin crossing the $30,000 barrier, the currency price is the highest since last June 10 transactions, according to Coinbase data.

The rise comes in light of the calming fears of the U.S. banking crisis, which occurred last month.

Investors became more optimistic about the monetary policy of the U.S. Federal Reserve, amid expectations that the market will move towards a slowdown in economic growth and thus reduce interest rates.

Cryptocurrency markets are anticipating that liquidity will be injected into the cryptocurrency market as a result of monetary easing, with Bitcoin becoming the best performing asset for 2023.

The digital currency has been locked in a range of $26,500 to $29,400 over the past three weeks.