“Bitcoin” jumps 152% in 2023… and awaits a “fateful” decision this month

Although 2023 is the 14th year of the emergence of cryptocurrencies, it has been a year full of surprises. Despite a series of scandals and bankruptcies, the crypto market, led by Bitcoin, was able to record record gains. Due to the crises that the market witnessed, the name of the “crypto” market was associated with fraud, and huge names emerged in a number of files related to fraud, for example, Sam Bankman Fried, Changping Zhao, Alex Mashinsky, and, less prominently, Heather “Razilikhan” Morgan and Ilya Lichtenstein (known as Also known as “Bitcoin Bonnie and Clyde”). The long-awaited approval of a major investment product is expected this January, potentially flooding the scene with new investors. Like the rest of the financial world, digital assets have gotten a boost from an improving macroeconomic picture, with inflation slowing and a recovery from a series of crises moving towards the long-awaited end to the Federal Reserve’s interest rate cuts this year. “It has been a year of resilience for cryptocurrencies,” says Kayla Curley, a cryptocurrency expert and partner at the global consulting firm Stone Turn. One of the big elements of this flexibility is how US authorities, especially the Department of Justice, flex their enforcement muscles regarding cryptocurrencies, even in the absence of clear regulations. She added, “Fraud is fraud, regardless of the technology or industry. You can’t stop human nature. And when it comes down to it, people will find a way to exploit the rules.” In terms of trading, in the year 2023, the combined market value of the “crypto” market jumped by 98.2%, gaining about $827.5 billion, after its total market value rose from the level of $842.5 billion at the beginning of 2023’s trading, to about $1,670 billion in trading. End of year. At the top of the losing digital currencies was “Bitcoin,” and the currency recorded record gains this year, amounting to 152% after it gained about $25,618, rising from the level of $16,841 at the end of the year 2022, to about $42,459 in year-end trading. Its combined market value also jumped by 156.6%, gaining about $507.6 billion, after its total value rose from the level of $324 billion at the end of the year 2022, to the level of $831.6 billion in year-end trading, occupying a market share of 49.79% of the total value. The market value of the cryptocurrencies being traded. It accounted for about 61.3% of the total market gains in 2023. The “Ethereum” currency, which came in second place on the list of the largest cryptocurrencies in terms of market value, recorded annual gains estimated at about 89.3%, gaining about $1,088 after its price jumped from the level of $1,218. At the end of the year 2022 to $2,306 at the end of the year. Its total market value also jumped by 86%, gaining about $128.2 billion, after the combined value rose from the level of $149 billion at the end of 2022 trading to the level of $277.2 billion at the end of 2023. The currency bearing the runner-up title of “Bitcoin” acquired 16.59% of The total market, while it accounts for about 15.5% of the total gains recorded by the crypto market in 2023.