Bitcoin Maintains Momentum Despite Bumps, Up 40% Since 2023

• Bitcoin’s price has experienced a few bumps since the beginning of the year, but it is still up 40 percent.
• Experts are divided on whether or not $25K resistance will prove significant for all risk assets.
• 2022 was the worst year on record for bitcoin and crypto in general, with the currency falling by more than 70 percent from its November 2021 high.

Bitcoin Is Maintaining Momentum

The price of bitcoin has experienced a few bumps since the beginning of 2023, but it’s still up 40 percent since first began. At the time of writing, the asset is above $23,000. While this isn’t quite the $25K it hit a few weeks ago, the currency is still maintaining a price in the $20K range. Mike McGlone – a senior macro strategist at Bloomberg Intelligence – commented that headwinds remain strong and that $25,000 resistance may prove significant for all risk assets.

The Worst Year On Record

In November of last year, bitcoin fell into the mid-$15,000 range due to FTX debacle. Despite slight bit of recovery towards the end of 2022 and eventually finishing at $16,600, things weren’t where they should have been compared to reaching an all-time high of about $68K per unit in 2021. The world’s number one digital currency by market cap fell by more than 70 percent from its November 2021 high and other digital currencies followed suit; resulting in overall valuation loss of more than $2 trillion among traders and crypto fans who wound up losing their investments.

Crypto Winter Coming To An End?

The first few months of 2023 have indicated that the alleged crypto winter that was spreading throughout 2022 may be finally coming to an end as Bitcoin began enduring rises that ultimately saw it hit $17K, then $21K and currently at around $23K again . Simon Peters from eToro fame commented on how there is most certainly an element of jitters among market participants watching for fresh updates and this is showing in past week’s price movement .

Experts Divided

Experts are divided regarding whether or not we can expect further rate hikes with main markets now pricing in no rate cuts for 2023 given sticier than expected inflation and labor market both within US and across world economies . Mike McGlone believes that 25k resistance may prove significant while Simon Peters suggests there might be some jitters among investors which could affect future prices .


Overall , despite experiencing some bumps along way , Bitcoin has maintained momentum so far this year with current prices ranging around 23k – demonstrating an increase of over 40% since start if 2023 . However , experts remain divided on what lies ahead as markets price in no rate cuts this year amid higher than expected inflation & labor market figures globally ; causing some jitters among investors & subsequently affecting prices over past week .