Bitcoin is on the rise again after a rough year

Bitcoin is on the rise again after a rough year

Deltafx Admin 17 January 2023

Bitcoin is on the rise in 2023, sweeping the crypto market off its feet and electrifying Bonk, a new meme coin.

Bitcoin surged 26% in January and is up 22% in the past week alone. That puts it back above the $20,000 level and on track for its best month since October 2021 – just before the big crypto crash.

Ether is also up 29% this year and has helped push the value of the entire global cryptocurrency market to more than $1 trillion, according to CoinGecko.

“After a difficult last year for cryptocurrencies, we are seeing something of a mean reversion,” said Jake Gordon, an analyst at Bespoke Investment Group, referring to the theory that asset prices revert to long-term averages.

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