Bitcoin, the most popular cryptocurrency, surpassed the US$30,000 mark for the first time in 10 months as investors increased their wagers that the US Federal Reserve would soon halt its relentless and aggressive monetary tightening campaign.
Tim Frost, CEO of crypto yield platform Yield App said, "The recent surge in bitcoin's price is like a breath of fresh air after a long, cold crypto winter."
"This renewed optimism could be attributed to an anticipated shift in the US Fed's monetary policy, which is expected to create a more stable, and hopefully predictable, environment," he added.
