Happy

United

Bitcoin

April

Read

<p class="is-style-lead">Bitcoin (BTC) experienced an exceptional year in 2023, achieving a significant 144% increase and outshining other major assets and indices.</p>
<p>The latest surge added an impressive $530 billion to its market capitalization, showcasing a solid recovery from the 65% decline it experienced in 2022.</p>
<p>The previous year’s downturn was influenced by tighter monetary policies and a series of industry challenges, including the <a href="https://crypto.news/ftx-crisis-shook-bitcoin-prices-the-most-messari-data-shows/" rel="noopener noreferrer nofollow">bankruptcy of major companies like FTX</a>.</p>
<p>Bitcoin price has jumped $25,506 in 2023, reaching $42,208, according to CoinMarketCap <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">data</a>. The highest level of this digital currency was hit in November 2021, when it topped $67,802.</p>
<p>Bitcoin’s performance in 2023 has not only been a recovery story but also one of outperformance compared to other major asset classes and indices. With a triple-digit return, it significantly surpassed the gains of gold, which increased by 14%, and the S&amp;P 500, which saw a 25% rise.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Happy new year. Here's the full bitcoin scoreboard: <a href="https://t.co/Mwj1vemWNN" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/Mwj1vemWNN</a></p>— Dan McArdle (@robustus) <a href="https://twitter.com/robustus/status/1741633874185109563?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">January 1, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Historically, Bitcoin has consistently outperformed gold and the S&amp;P 500 since its inception in 2009, with 2022 being the only exception. This trend highlights Bitcoin’s resilience and potential as a leading digital asset.</p>
<p>You might also like: <a href="https://crypto.news/bitcoin-holders-at-ath-two-whales-accumulate-over-19k-btc/" rel="noopener noreferrer nofollow"> Bitcoin holders at ATH, two whales accumulate over 19k BTC </a></p>
<h2 class="wp-block-heading" id="bitcoin-kicks-off-new-year-on-a-high">Bitcoin kicks off new year on a high</h2>
<p>Looking ahead to 2024, several factors appear to favor Bitcoin. A key development is the <a href="https://crypto.news/sec-may-approve-bitcoin-etf-for-imminent-launch-when/" rel="noopener noreferrer nofollow">anticipated approval</a> of the first set of spot Bitcoin ETFs in the United States, expected as early as Jan. 10. This development could open the doors to a broader range of institutional investors, with significant players like <a href="https://crypto.news/blackrock-meets-with-sec-for-24th-time-to-discuss-bitcoin-etf/" rel="noopener noreferrer nofollow">Blackrock</a>, <a href="https://crypto.news/fidelity-spot-bitcoin-etf-listed-on-dtcc/" rel="noopener noreferrer nofollow">Fidelity</a>, and <a href="https://crypto.news/vaneck-spot-bitcoin-etf-launch-will-not-impact-btc-price/" rel="noopener noreferrer nofollow">VanEck</a> showing interest in BTC as an investment option.</p>
<p>Furthermore, the Bitcoin network is on track for a <a href="https://crypto.news/learn/bitcoin-halving-what-it-is-and-how-it-may-affect-the-price/" rel="noopener noreferrer nofollow">supply halving</a> in April 2024. This event, which will <a href="https://crypto.news/bitcoin-halving-to-reduce-miner-revenue-by-50-glassnode/" rel="noopener noreferrer nofollow">reduce the BTC issuance</a> from 6.25 BTC per block to 3.125 BTC, is expected to increase the cryptocurrency’s scarcity.</p>
<p>Historically, halving events have been pivotal in Bitcoin’s four-year cycles, often leading to new all-time highs in BTC prices. Stepping into the new year, the outlook for Bitcoin and its investors is filled with anticipation and potential, marking a stark contrast to the previous year’s challenges.</p>
<p>Read more: <a href="https://crypto.news/bitcoin-halving-price-surge-btc-2024/" rel="noopener noreferrer nofollow"> Bitcoin halving 2024: Expert predictions point to major BTC price surge </a></p>

Bitcoin’s strong recovery in 2023 outshines gold and S&P 500

Table of Contents

crypto.news

Other articles published on Jan 1, 2024

AI-Enhanced Ultrasound Breaks New Ground in Precise Brain Treatment

Delysium Unveils Lucy — the Operating System (OS) of the “YKILY” AI Agent Network (1 Jan)

How Quantum Computing Could Revolutionize Privacy for Blockchain

Top 5 Cryptos For Beginners To Buy Now In 2024

Is Bitcoin Signaling a Buy Opportunity?

AI in Policing: Balancing Promise and Peril in Law Enforcement

Join our free newsletter for daily crypto updates!