Bitcoin this week hit its highest level since before cryptos slid into a brutal bear market in May 2022.
Bitcoin and other cryptocurrencies slipped Friday, paring gains after a recent rally but remaining near the highest levels of the year as traders bet that cryptos will continue to advance past levels not seen since before the 2022 bear market began.
“This Bitcoin rally feels different than the others we’ve seen since it bottomed last year. We’re the closest we’ve been to experiencing catalysts that can lead to a sustained market rally,” said Anthony Georgiades, a partner at the fund Innovating Capital and co-founder of the Pastel Network blockchain. “We should fully expect more dips ahead for Bitcoin, but such dips will likely be used by the larger players to accumulate.
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