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James Kinsella, PhD Researcher in Finance, University of Bath

Bitcoin has shot up 50% since the new year, but here's why new lows are probably still ahead

Bitcoin Crypto United States Nasdaq Glassnode
Up, up and ... CKA

To the delight of investors across the cryptosphere, the price of bitcoin (BTC) has rallied over 53% since its low of US$15,476 (£12,519) in November. Now trading around US$23,000, there’s much talk that the bottom has finally been reached for the leading cryptocurrency after a year of painful decline – in November 2021, the price peaked at almost US$70,000.

If so, it’s not only good news for bitcoin but the whole market in cryptocurrencies, since the others broadly move in line with the leader. So is crypto back in business?

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