- Bitcoin’s value increased by 83.8% in the first half of 2023.
- The bitcoin price rose by 47% within the first month of the year.
- Bitcoin’s rise was characterized by typical declines, with support and resistance levels impacting the price change.
Reported data shows that Bitcoin’s value increased by 83.8% in the first half of 2023, ranking first and exceeding other major world assets by a significant margin. In the second position is the Nasdaq index, whose value increased by 31.7%. A 37% drop in value puts natural gas in the bottom position following the fall in the prices of other energy sources.
Bitcoin’s trajectory for 2023 has been clear and with a bullish undertone. The flagship cryptocurrency kicked off the year with a strong bullish sentiment. The bitcoin price rose by 47% within the first month of the year, setting the tone for the following weeks.
The cryptocurrency’s rise was characterized by typical declines, with support and resistance levels impacting the price change. Bitcoin’s price dropped to $19,569 in March after climbing over $25,000 for the first time since August 2022.
Many Bitcoin analysts identified the climb above $25,000 as a significant move to confirm the end of the bear market. Despite the pullback after that, the majority of Bitcoin’s proponents considered it a consolidation and an accumulation opportunity. That belief was supported by the anticipation of a bull run ahead of the next Bitcoin halving, which comes up in 2024.
Another phase of the bullish trend returned to the Bitcoin market in the middle of March. Bitcoin gained over 58% in about four weeks during that period, as the price surpassed the $30,000 level for the first time since June 2022.
After that surge, Bitcoin entered into another consolidation, pulling back toward the $25,000 support region. After reaching a local low of $24,756, the bullish momentum returned, with the price returning above the $30,000 price level.
Data from TradingView shows that Bitcoin’s price at the end of June was $30,469, marking a yearly gain of over 83%. Bitcoin traded at $30,503 at the time of writing, with the positive momentum still intact.
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