In the year 2023, Bitcoin caught the attention of investors with the developments in the DeFi sector and the performance of the leading cryptocurrency, Bitcoin (BTC).
Throughout the year, Bitcoin, as the pioneer in terms of market value, influenced the entire market. On the last day of 2022, Bitcoin was valued at $16,604 and by the end of January 2023, it surged by 37.56% to $22,840, marking a phenomenal start to the year.
By the end of March, Bitcoin became the best-performing cryptocurrency of the first quarter of 2023, with a 41% increase from $20,195 to $28,460.
Before another rise at the beginning of July, Bitcoin was trading between $25,000 and $29,000 and then fell back to around $26,000 by the end of June and the beginning of July.
Following rumors that the United States Securities and Exchange Commission (SEC) cleared the way for the first spot Bitcoin exchange-traded fund (ETF), Bitcoin experienced a price increase of over 70%, reaching $44,386 on December 8th.
At the time of writing, Bitcoin was trading at $41,187, down 7.32%. Considering the almost 150% price increase since the beginning of the year and the anticipated spot Bitcoin ETF, investors have a very reasonable outlook for the future.