Despite the macroeconomic boom and regulatory crackdown on crypto, Bitcoin reached its highest level of the year.

The value of Bitcoin

The tickets fell.

It reached a 2023 high of $25,000 after rallying through much of January.

The last time Bitcoin price hovered around $25,000 was in mid-June. It has fallen between $19,000 and $21,000 in the past few months, according to data from CoinGecko.
The price of BTC then fell in November after the FTX crisis, and BTC fell to a 2022 low of $15,742 on November 10.

From January 4 to 17, it increased for 14 consecutive days.

The daily green candlestick streak is the second longest in the cryptocurrency’s 14-year history – one day shy of its 15-day streak set in November 2013.

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Although BTC had an impressive start to 2023, 2021, November 10 It is down 63% from the all-time high of $69,044 reached in 2021.

Some economists like Lyn Alden believe that BTC’s current price rise is short-lived. The Bitcoin bull believes that the actions of the US Federal Reserve may pose a “significant risk” for BTC in the second half of 2023.

Meanwhile, Galaxy Digital Holdings CEO Mike Novogratz is more bullish on the short term.

Speaking at the Bank of America conference on February 15, Novogratz said that there is a chance that BTC will reach $30,000 by the end of March.

Source: CoinTelegraph