Ethereum

Bull Market

Bitcoin

Coin

<ul>
 <li>Trading above $42,000, many BTC holders now trade at a profit. </li>
 <li>BTC’s market capitalization has increased by over 170%, while its price has more than doubled.</li>
 <li>The crypto market has seen significant growth in 2023, with many assets currently at multi-month highs.</li>
</ul>
With many assets currently trading at multi-month highs, the year has marked a recovery from the bearishness that plagued the crypto market in 2022.
In a new <a href="https://insights.glassnode.com/the-week-onchain-week-51-2023/" target="_blank" rel="noopener noreferrer nofollow">report</a> assessing the on-chain performance of leading coins, on-chain data provider Glassnode found that Bitcoin’s [BTC] market capitalization has risen by over 170% since January. As for Ethereum [ETH] and other altcoins, they have witnessed over 90% growth in their market capitalizations.
Year of the Bull for BTC According to Glassnode, a notable characteristic of this trading year has been the unusual shallowness of price pullbacks and corrections for BTC.
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BTC Bull Market Correction Drawdowns (Source: <a href="https://studio.glassnode.com/workbench/bf532ce2-a66b-4798-6deb-bf3ba7decc59" target="_blank" rel="noopener noreferrer nofollow">Glassnode</a>)
Compared to past bull markets with frequent 25% or even 50% retracements, this year’s deepest correction has been a 20% dip in the BTC’s price.
The research firm noted:
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 The buy-side support and the overall supp…
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The post <a href="https://coinedition.com/bitcoin-soars-170-in-2023-makes-most-holders-rich/" rel="noopener noreferrer nofollow">Bitcoin Soars 170% in 2023, Makes Most Holders Rich</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Bitcoin Soars 170% in 2023, Makes Most Holders Rich

Coin Edition

Other articles published on Dec 20, 2023

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