Bitcoin Prices Have Climbed Over 50% Since Bottoming Last Year
, 2023-01-29 14:48:59,
Bitcoin prices have experienced some very compelling gains in the last few months, rising sharply as the cryptocurrency recovers from the steep declines it suffered late last year.
The digital currency, which is the world’s largest by market value, reached $23,950 today on CoinDesk.
At this point, the digital asset had climbed roughly 53% from the local low of roughly $15,600 that it reached in November and was trading at a fresh, five-month high, additional CoinDesk figures show.
Further, it was up more than 40% since the start of this year, when bitcoin was valued close to $16,500.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
Even before these latest gains, Goldman Sachs had proclaimed bitcoin the best-performing asset of 2023 after conducting an analysis earlier this month.
The digital currency has experienced these sharp gains in spite of the ongoing difficulty in the cryptocurrency and blockchain space, which has been reeling from difficult, high-visibility events like the collapse of troubled exchange FTX and news regarding the upcoming trial of its founder and former CEO, Sam Bankman-Fried.
The price of bitcoin cratered in early November as the digital currency markets…
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