Bitcoin Surges Over 150% in 2023 But Remains Below Peak as Bullish Factors Drive Momentum
• Bitcoin has skyrocketed in price over the past decade, gaining 154% in 2023 alone. However, it remains 38% off its all-time high price.
• Recent regulatory approval of Bitcoin spot ETFs and anticipation of Bitcoin's upcoming "halving" event in April have driven momentum and bullish price outlooks.
• Bitcoin supporters believe its decentralized, fixed supply makes it an attractive hedge against unsustainable government monetary policies like money printing.
• If history repeats, Bitcoin could reach a new peak price of $100,000 within 12-18 months after the April halving event.
• While short-term predictions are unreliable, long-term holders believe much higher prices are possible over the next decade if Bitcoin realizes its potential.