Cryptocurrency Prices And News: Bitcoin Spikes Above $30,000, Gains 80% This Year | Investor’s Business Daily

Cryptocurrency News: Bitcoin surged above $30,000 for the first time in 10 months early Tuesday, continuing its advance following a quiet holiday weekend. Ethereum eclipsed $1,900 again as cryptocurrency prices and crypto-related stocks rallied with the bitcoin move.

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Meanwhile, MicroStrategy (MSTR) bitcoin bet returned to profitability with the most recent advance.

Cryptocurrency outlook picks up amid bank crisis. The markets lifting bitcoin might surprise you.

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Cryptocurrency Price Action

Bitcoin surged more than 6.3% over the past 24 hours to trade around $30,100 early Tuesday after peaking at $30,403 overnight. The rally mark’s bitcoin’s highest price in 10 months and the first time surpassing its $30,000 level since June 10. Bitcoin hovered around $28,000 since March 20 after vaulting 20% in March to record its best month since January when it gained 38.7%. The world’s largest cryptocurrency is up 81% so far this year.

Ethereum rallied roughly 3.5% over the past 24 hours, trading around $1,920 as of Tuesday morning. The No. 2 crypto surpassed $1,900 on April 5 for the first time since mid-August when it peaked at $1,941 to mark an eight-month high. ETH is gaining steam ahead of its Shanghai upgrade scheduled on April 12, which will complete its transition to proof-of-stake from a proof-of-work network.  Ethereum rose 10.6% in March and spiked 60.4% year-to-date.

Cryptocurrency Prices Heatmap:

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Digital asset investments are extremely volatile. While cryptocurrency’s fundamentals and technical indicators may differ, investors should focus on the same key objectives. First, stay protected by learning when it’s time to sell, cut losses or capture profits. Second, prepare to profit if the cryptocurrency starts to rebound.

Despite their original promise, cryptocurrencies haven’t acted as hedges against inflation. Instead, they’ve trended with the broader indexes. Read The Big Picture and Market Pulse to track daily market trends.

View IBD’s Best Cryptocurrencies And Crypto Stocks To Buy And Watch page to help navigate the world of digital asset investments.

Want a deeper dive into crypto? Check out the What Is Cryptocurrency? explainer page.

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Note: MicroStrategy is a software company that converts its cash into Bitcoin and heavily invests in cryptocurrency. Former CEO and Board Chairman Michael Saylor claims MSTR stock is essentially a Bitcoin spot ETF.

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