This article was last updated on December 29, 2023
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Table of Contents
Bitcoin Continues to Climb and is Already up 160 Percent by 2023
The price of bitcoin approached $43,000 (approximately 38,840 euros) on Friday, marking a significant increase in value by almost 160 percent this year.
Regained Investor Confidence
Investors are showing renewed confidence in the cryptocurrency, with the value of bitcoin reaching $40,000 at the beginning of December for the first time since May 2022. The year started with the coin valued at about $16,600, indicating a substantial upward trend.
Volatility and Eventful Year
Bitcoin investors have experienced a year filled with volatility and significant events, including a plunge to the lowest price since 2020 following the bankruptcy of crypto exchange FTX last year.
High Expectations in the Crypto World
There is a sense of high expectations in the crypto world as the American regulator may grant permission for the first listed bitcoin funds next month. Major financial companies have recently submitted applications to the American stock exchange regulator SEC. If approved, it could result in billions of dollars in additional crypto investments.
Looking Back and Moving Forward
At present, the price of bitcoin remains well below the record level of around $69,000 reached in November 2021, but with the ongoing positive momentum, there is optimism for future advancements in the cryptocurrency market.
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