Bitcoin exceeds $30,000 for the first time since June 2022.

Rising cryptocurrency value raises worries about widespread market manipulation concerns.

Bitcoin has experienced a substantial surge, pushing its value beyond $30,000 (£24,118) for the first time since June 10th of the preceding year. This occurred just before the Celsius crypto lending company suspended withdrawals, marking the beginning of its decline.

Although there has been a recovery, the current price of the token remains significantly below its peak of $68,000 in November 2021 and its value prior to the collapse of the Terra stablecoin, which triggered the onset of the “crypto winter.

Nevertheless, the gradual rise in Bitcoin’s value has initiated discussions about a potential comeback in cryptocurrency markets and revived concerns regarding widespread market manipulation.

In a tweet, the individual expressed a belief in this being the moment when the world shifts to Bitcoin as digital gold, harking back to a model reminiscent of the pre-20th century era. He further explained his stance, asserting that once people validate his claims and uncover the Federal Reserve’s deception about bank reserves, a rapid chain of events will unfold, leading to the demise of all dollar holders.

On Monday, Alex Adelman, CEO of the Bitcoin rewards app Lolli, remarked that the recent upswing lacked a clear trigger but pointed to Bitcoin’s newly established bullish market conditions and heightened investor confidence. The sustained strength of Bitcoin implies a transition from the “crypto winter” to a fresh phase marked by strength and renewed interest from both retail and institutional investors.

Yet, the recovery, during which Bitcoin prices lingered at approximately $28,000 for nearly a month before surging by $2,000 in a single day, has also triggered apprehensions regarding market manipulation.

In June 2022, the US Securities and Exchange Commission (SEC) rejected the proposal to launch an exchange-traded fund tied to Bitcoin. This would have allowed investors to acquire cryptocurrency exposure on public stock markets. The SEC determined that preventing fraud and market manipulation from impacting the price was deemed impossible.