Bitcoin price After surging through most of January, it has reached a new 2023 high of $25,000.
According to data from CoinGecko, bitcoin’s price was last around $25,000 around mid-June before falling to a range of $19,000 to $21,000 before hovering for several months. Following the FTX crisis, the price of BTC fell sharply in November, with BTC hitting a 2022 low of $15,742 on Nov. 10. Its price began to surge in early January, rising for 14 consecutive days from January 4 to 17.
The streak of daily green candles is the second-longest in the cryptocurrency’s 14-year history, one day shy of the 15-day record set in November 2013. Although BTC is off to a good start in 2023, it is still down 63% from its all-time high of $69,044 reached on November 10, 2021.
Some economists, such as Lyn Alden, believe that BTC's current price surge may be relatively short-lived. Bitcoin bulls believe that the Fed’s actions could pose “considerable danger” to Bitcoin in the second half of 2023.
Meanwhile, Galaxy Digital Holdings CEO Mike Novogratz is more bullish on the short term.
Novogratz reportedly said at a Bank of America conference on Feb. 15 that BTC could reach $30,000 by the end of March.
