Bitcoin Price Tops Near 2023 High at $25k
The Bitcoin price (BTC) has reached a new 2023 high of $25,000 after surging over much of January.
The last time Bitcoin’s price was around $25,000 was around mid-June, on its way down to between $19,000 and $21,000, where it then hovered for several months, According Get data from CoinGecko
In November, BTC prices plunged dramatically. Following the FTX crisis, which saw BTC drop to a 2022 low of $15,742 on Nov. 10.
Its price surged in January. increasing over 14 consecutive days From Jan. 4-17.
That daily green candle streak was its second longest in the cryptocurrency’s 14-year history — having fallen one day short of its 15-day record set in November 2013.
Related: Bitcoin price correction was overdue — analysts outline why the end of 2023 will be bullish
While BTC has had an impressive start to 2023, it is still down 63% from its all-time-high of $69,044, reached on Nov. 10, 2021.
Lyn Alden and other economists believe so. BTC’s current price surge may be relatively short-lived. Bitcoin bull believes the U.S. Federal Reserve will likely take repressive actions. “considerable danger ahead” BTC in 2023’s second half.
In the meantime, Galaxy Digital Holdings CEO Mike Novogratz seems more optimistic in the short-term.
Novogratz said the following at a Bank of America conference in February 2015. there’s a chance BTC could hit $30,000 by the end of March.
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