Year-ender 2023: Bitcoin outshines traditional markets
gold to crypto.
Amidst this dynamic landscape, Bitcoin has been the standout performer, with an impressive surge of over 160% in the past twelve months. Bitcoin has delivered these returns, which is higher than stalwarts like Nifty50 and gold, which delivered nearly 19% and 13.5%, respectively. Prices of some crypto coins (Altcoins) surged up to 16,000%, churning out mind boggling returns for investors.
«Bitcoin and Ethereum experienced significant gains, with Bitcoin's Year-to-Date growth reaching an impressive 160%. This upward trajectory reflected a clear shift in sentiment towards crypto assets. The market's growth throughout the year was characterized by organic and sustained development, positioning it favourably for the future,» said Rahul Pagidipati, CEO of ZebPay.
Meanwhile, Shivam Thakral, CEO of BuyUcoin, said, «We have witnessed very encouraging numbers in terms of growth. The total market capitalization has increased by around 60% year-to-date. This growth was driven by factors like institutional adoption, DeFi's rise, and NFT popularity. Bitcoin, the world’s largest digital asset by market cap is up by 155% at the time of writing, which makes Bitcoin one of the best-performing asset class of 2023.»
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details»At the start of 2023, Bitcoin was trading around $16,000-$16,500, and by the time December rolled in, it had skyrocketed to an impressive $44,000. A major role in the rise of Bitcoin was played by BlackRock, the world's preeminent asset manager, which had filed for a Bitcoin spot ETF.
The primary catalysts behind
