Bitcoin shows the best growth since 2013

Cryptocurrency market analysts note that the bitcoin rate BTC $96,513.36 Bitcoin -1.69% Market capitalization $1.91 trillion VOL. 24 hours $2.71 billion has been showing the best growth dynamics since 2013. Since January 1 of this year, the flagship digital currency’s quotes have increased by almost 40%. The last time industry experts recorded such a result was 10 years ago.

Coindesk analysts noted that such a rapid increase in the value of the flagship crypto asset occurred amid the weakness of the US dollar (USD). According to observers, the price rally was driven mainly by buyers from the United States. Біллі Маркус" href="https://noworries.media/biography/billi-markus/" data-bio-id="3704">Markus Thielen, Head of Research and Strategy at Matrixport, a crypto services provider, emphasized: «Bitcoin has risen by 40% since the beginning of the year. At the same time, 35% of the growth is accounted for by trading in the United States. This is a significant contribution to the asset’s rally.»

The expert noted that American institutions are currently the main buyers of BTC. «Institutions are not only buying bitcoins on the spot market. We have also recorded consistently high premiums for BTC perpetual futures. This can be interpreted as a sign that institutional traders and hedge funds are actively buying cryptocurrency at a discount and believe in positive prospects,» Thielen emphasized.

Earlier, Matrixport’s Director of Research and Strategy either jokingly or quite seriously talked about a guaranteed profit scheme for the sale of the main cryptocurrency. «Buying bitcoin at the end of the first day of the Chinese New Year and selling the flagship asset after ten trading days guarantees a profit of more than 9%. Over the past eight years — from 2015 to 2022 — the scheme has been successful 100% of the time,» Thielen said on his LinkedIn.

At the time of writing, bitcoin is trading at $ 22,929 with a market capitalization of $ 441.9 billion.