Bitcoin, the best investment of 2023?

Bitcoin, the best investment of 2023?

While 2023 has started off with a bang for cryptocurrencies, Bitcoin is the most performing asset in the world of finance.
All for Bitcoin! According to โ„น๏ธ information provided by Goldman Sachs, bitcoin is the ๐Ÿ’ฏ best performing asset as of early 2023. After nearly the end of the quarter, the crypto asset easily outperforms other types of assets.
At the time of publication of the document, Bitcoin was showing an annual increase of 51%. According to CoinMarketCap, the first cryptocurrency in terms of market capitalization would even post an impressive 68% growth. This is from January 1 to today.
Thus, as the price of bitcoin rises, the performance of the asset outperforms that of information technology (16%) or communications services (15%). But, nevertheless, the NASDAQ (15%), gold (4%) or S&P 500 (4%) are also declining.
Source: Twitter
Cryptocurrencies at the forefront! In parallel with the rise in the price of bitcoin in recent months, altcoins have performed well. As we mentioned yesterday in our Cryptocurrency ๐Ÿ” top and flop, some assets (admittedly riskier than BTC) have even risen over 500% since the beginning of the year.
Bitcoin and cryptocurrencies have led to a crisis in American and European banks. Indeed, these assets have been resurrected at this very moment.
Indeed, despite a successful start to the year, cryptocurrencies calmed down after mid-February. But then the growth of the sector was much stronger than the growth of other types of assets. So while the price of Bitcoin opened the year with a low around $16,500, a local high was hit at $28,500. In the future, the BTC rate is $28,000 (at the time of writing), on the verge of $30,000.
After a difficult bear market for crypto investors, the trend ๐Ÿ“ˆ that emerged in March is a relief. Now market participants are much more optimistic about the future. In addition, ๐Ÿคชcrazy theories about the BTC rate follow one another again.
Moral of the story: Never give Bitcoin away for dead!
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