BTC surpasses $28,000
After a dismal performance in yesteryear BTC shines in 2023. BTC coins started its journey from $16,500 managed to surpass $28,000 Currently coin is trading around $28,015.
Coin observed massive growth in 2023. Coin observed almost 70% rise in its worth during 2023. This is a big number. Current worth of BTC is still no way near to its all time high worth of $68,800 achieved by coin on November 2021. After touching all time high worth coin unable to maintain its worth and coin fell as low as $16,500 in 2022. Great recovery by the coin.
One of the major reason of dip in BTC worth is global economic crises, high inflation and high interest rate. High interest rate has shifted equity from crypto to fiat. In my part of the world interest rate is currently touching around 20%.
Although coin observed a massive 70% gain in 2023, but the current worth of coin is still almost 59% down from its all time high worth of $68,800. Still a long way to go.
Rise of BTC worth also increased the global market cap upto $1.18 Trillion. Good to see that alt coins are also growing with BTC. Green color dominance observed in the market. BTC is a trend setter in crypto world. BTC held the 45.8% share of overall marketcap. This reveals the influence of BTC over other Alt coins. BTC growth will definitely help to build investors trust as a result it will suck in more investment in crypto world. Rise of BTC brought happiness in many crypto enthusiast. I am glad for the user who bought BTC around $16,500.
Rise of BTC raised a question that is this the end of Crypto long bearish season. It is hard to predict that answer as the crypto market is one of the most volatile market of the world. Pump and dump is part and parcel of the market. One big news may help coin to surpass $30,000. On the other hand one bad news may slip down its worth.
There is no need to panic if you see an other dip in BTC price. Since it started its joureny from 2009, Coins never observed dip in two consecutive years.
source
Just checkout the above table. There are numerous of instances when coin observed bullish trend in consecutive years. The history reveals 2023 will prove bullish for BTC.
Hopefully BTC halving will help to increase coins worth. Beaware any thing is possible after all it is crypto world. What is your opinion my friends?
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.
we all can't wait for Btc to really have a massive great pump . Doing slightly about $28k is certainly a stepping stone in the Bull run journey.
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True. Let's hope coin will maintain its worth above $28,000 for few days, before a bullish run.
Yeah right ! Stability is always key !!
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Meanwhile today I have seen that Bitcoin has broken its 28000 level today and if it stays like this for some time here then we will see it at 30000 thousand dollars sometime in the next few days. Those who were waiting for us to buy Bitcoin for ten thousand dollars will continue to wait.
Yes, hope coin will rise again soon. Stay blessed
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The FOMC meet and the rate hike/cut or what ever is the outcome would determine the next immediate path that BTC takes. lets wait and watch the outcome of the meet.
Keeping fingers crossed.