Cryptocurrency

2024

Terra Classic

Bitcoin

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 <p class="paragraph">The past year has generally been favorable for Bitcoin (BTC) as it recouped most of the losses incurred during the 2022 bear market.</p> 
 <p class="paragraph">Bitcoin is currently focused on reclaiming and sustaining gains above the $45,000 resistance level. This surge is supported by several bullish sentiments, with anticipation around the potential approval of the spot exchange-traded fund (ETF) ranking high.&nbsp;</p> 
 <p class="paragraph">Notably, there is an expectation that the Securities and Exchange Commission (SEC) will likely approve the product in early January.</p> 
 <p class="paragraph">It’s <a rel="dofollow" title="worth" href="https://thebittimes.com/tag/worth.html">worth</a> noting that these gains come after Bitcoin consolidated below $30,000 for the better part of 2023. At the same time, Bitcoin’s gains emerged despite potential negative news affecting the cryptocurrency space.</p> 
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 <p class="paragraph">For instance, the cryptocurrency demonstrated resilience even as Binance CEO Changpeng Zhao pleaded guilty to criminal charges and stepped down as the company’s CEO as part of a $4.3 billion settlement with the Department of Justice. Furthermore, Bitcoin sustained its momentum in an environment of high interest rates.</p> 
 <h2 class="wp-block-heading" id="h-how-much-would-1-000-invested-in-bitcoin-be-worth">How much would $1,000 invested in Bitcoin be worth?</h2> 
 <p class="paragraph">When looking at how much Bitcoin would have returned with an <a rel="dofollow" title="investment" href="https://thebittimes.com/tag/investment.html">investment</a> of $1,000, the maiden cryptocurrency has generally showcased its growth potential. Starting at $16,619 in January 2023, the leading cryptocurrency has experienced a remarkable surge of 162%, reaching its current price level, exceeding $43,000.</p> 
 <p class="paragraph">For investors who identified the potential bullish trend and committed $1,000 to Bitcoin in January of the previous year, the initial <a rel="dofollow" title="investment" href="https://thebittimes.com/tag/investment.html">investment</a> would have appreciated significantly, transforming a modest $1,000 into a substantial $2,620.</p> 
 <p class="paragraph">Indeed, Bitcoin commenced 2024 on a bullish note, surpassing $45,000 on January 2 for the first time since April 2022. Specifically, Bitcoin reached a 21-month peak of $45,922, marking a 156% gain last year – its most robust yearly performance since 2020.</p> 
 <p class="paragraph">In addition to the anticipation surrounding the spot ETF approval, Bitcoin also seeks to maintain gains ahead of the halving event, which has historically been associated with price increases.&nbsp;</p> 
 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2> 
 <p class="paragraph">Bitcoin was trading at $43,581 by press time, gaining over 3% in the last seven days.</p> 
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  <img decoding="async" width="1024" height="683" src="https://cdn.thebittimes.com/images/2024/01/06/bfacd20bf5a59dcd6f8bd73761666fb2.webp" alt class="wp-image-147660" srcset="https://cdn.thebittimes.com/images/2024/01/06/bfacd20bf5a59dcd6f8bd73761666fb2.webp 1024w, https://cdn.thebittimes.com/images/2024/01/06/bfacd20bf5a59dcd6f8bd73761666fb2.webp 300w, https://cdn.thebittimes.com/images/2024/01/06/bfacd20bf5a59dcd6f8bd73761666fb2.webp 768w, https://cdn.thebittimes.com/images/2024/01/06/bfacd20bf5a59dcd6f8bd73761666fb2.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
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   <em>Bitcoin seven-day price chart. Source: Finbold</em>
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 <p class="paragraph">A review of Bitcoin’s technical <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> points to a bullish outlook for the pioneering cryptocurrency. A summary of the one-day gauges aligns with the ‘buy’ sentiment at 13, while moving averages indicate a ‘strong buy’ at 13. On the other hand, oscillators suggest a ‘sell’ at 2.</p> 
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  <img decoding="async" width="1024" height="209" src="https://cdn.thebittimes.com/images/2024/01/06/4c5bc4b8712832b7ff12537df1b9b2cc.webp" alt class="wp-image-147661" srcset="https://cdn.thebittimes.com/images/2024/01/06/4c5bc4b8712832b7ff12537df1b9b2cc.webp 1024w, https://cdn.thebittimes.com/images/2024/01/06/4c5bc4b8712832b7ff12537df1b9b2cc.webp 300w, https://cdn.thebittimes.com/images/2024/01/06/4c5bc4b8712832b7ff12537df1b9b2cc.webp 768w, https://cdn.thebittimes.com/images/2024/01/06/4c5bc4b8712832b7ff12537df1b9b2cc.webp 1536w, https://cdn.thebittimes.com/images/2024/01/06/4c5bc4b8712832b7ff12537df1b9b2cc.webp 1617w" sizes="(max-width: 1024px) 100vw, 1024px">
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   <em>Bitcoin technical analysis. Source: TradingView</em>
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 <p class="paragraph">Meanwhile, Bitcoin continues to witness a surge in on-chain activity, particularly from large holders. According to a Finbold report on December 5, within 24 hours on January 4, Bitcoin registered 16,900 transactions involving amounts exceeding $100,000.&nbsp;</p> 
 <p class="paragraph">This notable increase in whale activity can reflect how significantly Bitcoin holders strategically position themselves within the market.</p> 
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered <a rel="dofollow" title="investment" href="https://thebittimes.com/tag/investment.html">investment</a> advice. Investing is speculative. When investing, your capital is at risk.</em></p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/1-000-bitcoin-investment-in-january-2023-how-much-is-it-worth-now-tbt75770.html">https://thebittimes.com/1-000-bitcoin-investment-in-january-2023-how-much-is-it-worth-now-tbt75770.html</a></p>

$1,000 Bitcoin investment in January 2023: How much is it worth now?

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