Bitcoin is Soaring in 2023
Bitcoin began 2023 with a bang!
It’s mid-March and at its $27,000 price, it has almost doubled in value since its $15,000 low at the beginning of the year.
In the past week only, it has risen almost 30 %.
Many traders and holders are almost doubling their investment in the past 3 months. Those using margin have doubled it +.
The recent crash of Silicon Valley Bank had a positive income on the crypto industry and Bitcoin in particular as as some people raised their concerns about the banking industry, others saw the decentralized crypto system as a solution and put their money into it bringing prices up.
Also, with governments constantly printing money which increases the supply of money in the economy leading to inflation, many feel distraught about the future value of their fiat currencies.
Many securities and digital currencies have been experiencing a tough bear market for about two years now but Bitcoin and many other coins seem to be on a recovery at the moment.
Some experts and enthusiasts predict that the king of crypto could continue rising for the next few months reaching highs of $50,000 even. It is also predicted that its price could reach $100,000 before 2027.
