Bitcoin New Highs in 2023, Climbing to $29000 Before Pulling Back

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Crypto News > Bitcoin New Highs in 2023, Climbing to $29000 Before Pulling Back

Bitcoin, the world’s largest cryptocurrency by market cap, continues to make headlines in 2023 as its value surges to new highs despite a volatile market and potential threats from the US government.

According to recent reports, Bitcoin’s value has increased by 6% over the past 24 hours, reaching around $28,400. This marks a significant increase of almost 72% for Bitcoin this year alone, resulting in its best quarterly gain in two years.

The cryptocurrency has reached new highs in 2023, with its value climbing to $29,000 before pulling back to a consistent level of support at $28,300. Data from TradingView shows that after reversing course from its dip below $27,000 on Wednesday, Bitcoin climbed higher throughout the trading day.

Despite a conservative view from the Fed, Bitcoin’s price continues to climb, promising a volatile day for the markets. However, Balaji Srinivasan, the ex-chief technology officer of Coinbase, has predicted that the US government may attempt to block Bitcoin in the future.

As Bitcoin continues to reach new highs in 2023, it remains to be seen how the cryptocurrency will fare in the face of potential government threats and increasing competition from emerging technologies. Nonetheless, it seems that Bitcoin’s place as the world’s leading cryptocurrency is still secure for the time being.

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