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Cryptocurrency: Bitcoin is back in full force in 2023

05/01/2024
Source : ORISHAS FINANCE
Categories: Economy/Forex Compliance

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After being plunged in 2022, the bitcoin and crypto market came back strong in 2023. According to investors, a step will be taken at the beginning of 2024 to democratize investment in the first

cryptos.

Last year, Bitcoin raised hopes for a market recovery after a catastrophic year marked by the collapse of Sam Bankman-Fried's empire. Its average value was 28,325 dollars (26,000 euros) in 2023, compared to 25,025 dollars in the last five years. It achieved more than half of its performance for the year (+160%) in the last quarter alone. According to the Glassnode report, “the strong surge in high volumes starting in October allowed Bitcoin to clearly cross $30,000. In 2023, it experienced corrections of limited magnitude, of the order of 20%, against falls of 25% and up to 50% in the past”.

Bitcoin saw a surge in options volumes in 2023, a sign of the growing influence of institutions on prices. The total capitalization of the crypto market jumped by 50% to 1.6 trillion dollars, but it is still 50% below its record in November 2021

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