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Bitcoin (BTC) Targets $30,000 Now, IntoTheBlock Says, But There's a Catch

Thu, 08/31/2023 - 14:45
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Yuri Molchan
Leading global digital currency may soon reach $30,000 level, recent report claims, unless the following happens
Bitcoin (BTC) Targets $30,000 Now, IntoTheBlock Says, But There's a Catch
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A recently published tweet by the IntoTheBlock agency reveals data about what chances Bitcoin has to reach the $30,000 level and what may help it to happen.

The tweet reminded the audience that the flagship crypto BTC has again attracted a lot of attention on the market thanks to the recent victory gained by the Grayscale fund in court against the SEC regulator.

The next milestone for Bitcoin, IntoTheBlock stated, is likely the $30,000 level. According to the screenshot shared within the tweet, a staggering 6.2 million wallets bought roughly 2.6 million Bitcoin between the current price level of Bitcoin and $30,000. These green and red "bubbles," IntoTheBlock stated, could move either way, pushing the BTC price up or making it move down.

If bearish sentiment expands in the market, it may "trigger a rush to break even," increasing the sell volume of Bitcoin. Still, should bullish momentum strike and be strong, as in the possible case of a future Bitcoin spot ETF getting approved, Bitcoin may rush to the north, toward the $30,000 price mark.

Elon Musk refutes rumors of "X coin" — may be win for Bitcoin

Elon Musk, owner of the X app, formerly known as Twitter, has again rejected media rumors about X allegedly planning to launch its native token to use it on the platform.

Commenting on a tweet by "Dogecoin designer," which said "𝕏 is not going to launch any 𝕏-coin. The team is focused more on making real money work on the app rather than some substitute currency," Musk stated, "correct."

Still, Musk's platform has secured licenses in at least half a dozen U.S. states for conducting crypto payments this year. The most recent one was acquired on Aug. 28 for the state of Rhode Island.

On Aug. 30, investor Jeroen Blokland posted a tweet commenting on the fact that Twitter Payments LLC received a license in yet another state. He assumed that X app intends to implement cryptocurrency payments. "While Elon Musk might be thinking about Dogecoin, I'm thinking about Bitcoin," he added.


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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at