ZoneBitcoin EditorialWhile the year 2022 was dramatic to say the least for the cryptocurrency sector, the year 2023 was rather glorious for Bitcoin. Indeed, according to a recent study, in November 2023, bitcoin office will see an overall gain of around 160%. In fact, only the action of the semiconductor company Nvidia Corp (NVDA) outperformed the performance of bitcoin, with a gain exceeding 240% annually. Bitcoin is then the 2nd best performing asset of the year.
In 2023, the price of bitcoin was below the $17 mark while it reached $000 to close the end of the year in style.
The price of bitcoin on the rise
An analysis of the consulting firm Kaiko Research indicates that Bitcoin experienced a period of stagnation from March to October 2023 before BlackRock's announcement of the creation of a Bitcoin exchange-traded fund (ETF) sparked an upward trend.
Kaiko Research also points out that Bitcoin's performance is increasingly detached from the stock market and other macroeconomic conditions, further strengthening its role as a hedge against inflation.
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