Bitcoin climbed above $30,000: Can the coin hold its ground?

Bitcoin climbed above $30,000: Can the coin hold its ground?

Bitcoin begins a new week with strengthening positions. During the Asian session on May 30, the exchange rate of BTC rose to $30,600. The capitalization of the largest digital currency increased by 5.5% to $583 billion.

Altcoins are also adding in value. Ether (ETH) and Binance Coin (BNB) rebounded to $1904 and $319, respectively.

Cardano (ADA) and Solana (SOL) were the top ten CoinMarketCap performers, soaring more than 10% to $0.52 and $46.85.

Galaxy Digital CEO Mike Novogratz believes that as the financial sector stabilizes, the Federal Reserve will give up raising the discount rate.

At that point, the trend will begin to change and capital will once again go into risky assets. Bitcoin will not only be able to recoup the losses of May, but it will also be able to achieve more impressive results.

The billionaire stressed that investors who are unsure of the Cryptocurrency’s future leave the market in times of volatility. But real fans remain, and the industry develops thanks to them.

When panicked traders finally leave the market, at that point we will reach the bottom and begin to prepare for a rebound, said Novogratz.

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Written by Renat
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