In the new year is starting off strong for crypto: Bitcoin prices are hovering around $45,000, their highest in almost two years. But can the digital currency continue to rise, or will the streak of gains it kept up through the past year peter out?
The last 12 months have seen a comeback for both bitcoin and the cryptocurrency industry at large. While 2022 was fraught with controversial headlines (FTX collapse, anyone?) and price troughs, 2023 saw bitcoin values rise by over 155%. At least some of this success can be chalked up to an improving overall economy; job gains, the deceleration of inflation and the prospect of interest rate cuts this year have helped to bolster stocks, which have been shown to follow similar price patterns as cryptocurrencies.
