Despite tight macroeconomic conditions and headwinds in the crypto industry, Bitcoin is up more than 160% in 2023, fueled by the excitement over ETF proposals.
Bitcoin (BTC) is set to wrap up the year outperforming all major traditional assets, data provider Kaiko Research predicts. The cryptocurrency is up more than 160% in 2023 despite tight macroeconomic conditions and headwinds in the crypto industry.
Just a few companies are ahead of Bitcoin performance, including NVIDIA Corp (NVDA), which has jumped 241% year-to-date, outpacing Bitcoin’s 163% gain.
Kaiko’s analysis breaks down BTC price action throughout the year into three stages. BTC traded almost always between $25,000 and $30,000 between March and October, dropping sharply and hitting multi-year lows in mid-2023. However, following BlackRock’s filing for a spot Bitcoin exchange-traded fund (ETF) on June 15, the cryptocurrency’s market price rose above $40,000.
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Source: https://cointelegraph.com/news/bitcoin-close-2023-top-performing-assets-160-kaiko