Bitcoin reaches highest point this year

Last Updated: 16 January 2023

The bitcoin price reached the highest point of this year last night: $21,340. The price of BTC is up by over 22% in a week.

Time for some perspective. Bitcoin reached $69,000 on several major exchanges in November 2021. We are a long way from that with the current daily prices.

The chart below shows bitcoin’s price movements over the past year. On the smaller charts (of a month or week) we see a big increase, but with a little more zooming out you get a different picture. The price of bitcoin fell along with the rest of the financial markets, although the initial reaction was a lot more violent than for tech stocks.

The road is still long, but bitcoin has started the year well.

The Bitcoin Fear and Greed Index is a well-known indicator in the world of BTC. It is a way (or attempt) to reflect market sentiment.

On 15 January, the index shot up to a level of 52, the highest since 5 April. This indicates that there is a bit more confidence (or greed) in the market again than before. The most depressed period since the existence of this indicator was in 2022. Not very surprising, as there was great panic in the market then. Bankruptcies, mismanagement and stolen money dominated the conversations around bitcoin.

The recent price rally gives hope.

What the price of bitcoin will do, no one knows for sure. Numerous analysts make a daily effort. A small selection can also be found here on the website.

Legendary investor Peter Brandt warns: nobody knows exactly what a market will do. However, he too does share a chart with some patterns.

  • Gabriele Spapperi

    Gabriele Spapperi is a veteran cryptocurrency investor and blockchain technology specialist. He became fascinated with Bitcoin and distributed ledgers while studying computer science at MIT in 2011.

    Since 2013, Gabriele has actively traded major cryptocurrencies and identified early-stage projects to invest in. He contributes articles to leading fintech publications sharing his insights on blockchain technology, crypto markets, and trading strategies.

    With over a decade of experience in the crypto space, Gabriele provides reliable insights and analysis on the latest developments in digital assets and blockchain platforms. When he's not analyzing crypto markets, Gabriele enjoys travel, golf, and fine wine. He currently resides in Austin, Texas.

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