Bitcoin

April

Status

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-recovery-and-performance-in-early-2023/" data-wpel-link="internal">Bitcoin’s Recovery and Performance in Early 2023</a><br></p>
<p style="text-align: justify">After the bear market experienced in 2022, Bitcoin hit its bottom at the beginning of 2023 and then began to recover, compensating for most of the losses caused by the bear market. The year 2023 was generally a recovery year for Bitcoin (BTC).</p> 
<h2 style="text-align: justify" id="current-status-of-bitcoin">Current Status of Bitcoin</h2> 
<p style="text-align: justify">Bitcoin seems focused on re-achieving a price movement above the $45,000 resistance level following the potential <a href="https://newslinker.co/" data-wpel-link="exclude">news</a> of a spot Bitcoin ETF. Expectations continue to rise after last night’s developments on the subject. Additionally, situations like the BTC halving continue to support this price movement.</p> 
<p style="text-align: justify">Throughout the past week, all eyes were on the Securities and Exchange Commission (SEC), and there was a global anticipation that the SEC would approve the ETF at the beginning of January.</p> 
<p style="text-align: justify">On the other hand, it is useful to remember that the BTC gains in 2023 came after consolidating below $30,000. These gains occurred despite potential negative news affecting the cryptocurrency sector.</p> 
<p style="text-align: justify">As an example, <a href="https://en.coin-turk.com/binance-faces-new-hurdles-in-thai-cryptocurrency-exchange-venture/" data-wpel-link="internal">Binance</a> CEO Changpeng Zhao had accepted criminal charges against him in recent months and resigned from the company’s CEO position following a $4.3 billion settlement with the Department of Justice.</p> 
<p style="text-align: justify">Nevertheless, cryptocurrencies showed resilience and did not decline. Even more remarkable is that despite high interest rates in the US and around the world, Bitcoin did not lose its momentum and rose to $45,950.</p> 
<h2 style="text-align: justify" id="1-000-bitcoin-investment">$1,000 Bitcoin Investment</h2> 
<p style="text-align: justify">Looking at the return on a $1,000 investment in Bitcoin at the beginning of 2023, a positive trend is observed due to the overall growth in price.</p> 
<p style="text-align: justify">Bitcoin, which had fallen to $16,327 in January 2023, achieved a notable increase of 162%, reaching today’s value of $43,689, surpassing $43,000.</p> 
<p style="text-align: justify">To answer the question, investors who invested $1,000 in Bitcoin would have seen a noticeable value gain on their initial investment, turning that $1,000 into $2,620.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-298977" src="https://coin-turk.com/wp-content/uploads/2024/01/btc-yukselir-mi.png" alt="" width="1780" height="959"></p> 
<p style="text-align: justify">Bitcoin started 2024 with a noticeable rise, surpassing the $45,000 level on January 2, a level not seen since April 2022. Particularly, Bitcoin reached $45,950, marking the peak of the last 21 months, and showed a gain of 156% over the past year, achieving its strongest annual performance since 2020.</p> 
<h2 style="text-align: justify" id="how-much-is-bitcoin">How Much is Bitcoin?</h2> 
<p style="text-align: justify">At the time of writing, Bitcoin was trading at $43,689, and despite pulling back from $45,950, it had gained over 3% in value in the last seven days.</p> 
<p style="text-align: justify">While there is a growing expectation of a price increase, trading volume indicators were showing the opposite trend. There was a 30% decrease in trading volume in the last 24 hours, falling below $25 billion. The overall volume was down by 0.29%, hovering just below $860 billion.</p> 
<p style="text-align: justify">Meanwhile, specifically for Bitcoin, there continues to be an increase in on-chain activities by whales. On January 4, it was observed that there were 16,900 transactions exceeding $100,000 within a 24-hour period.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoins-recovery-and-performance-in-early-2023/" data-wpel-link="internal">Bitcoin’s Recovery and Performance in Early 2023</a></h5>

Bitcoin’s Recovery and Performance in Early 2023

Table of Contents

COINTURK NEWS

Other articles published on Jan 6, 2024

Phuket to Pioneer Blockchain Mass Adoption in Thailand with B2GC:Blockchain to Government Conference

3 Tokens To Turn $10 Into $100 in January 2024

All Spot Bitcoin ETF Applicants Submit Final 19b-4 Amendments

Anthropic’s Updated Terms of Service: Commitment to Data Privacy and Legal Protection

uShark is back!

How ADA’s Relative Strength Index Could Trigger a Bullish Surge Past $1.43

Join our free newsletter for daily crypto updates!