Bitcoin has defied all odds and surged above predictions this month, making January 2023 its best month in a decade.
Bitcoin was charged with a 40% boost, a recovery that is part of a broader trend of investors’ rising risk appetite.
However, some investors are still sceptical about the durability of the Bitcoin price uptick, considering economic worries and cautions from some global market segments.
Bitcoin buyers have maintained their position above the crucial $22.9K support level by consistently creating higher lows.
NewsBeatng reports that this is a sign of the digital asset’s underlying strength, which has been on a solid upswing over the past 24 hours, rising from an intraday low of $22,908 to a high of $23.9K in that time.
Despite occasionally contradicting economic statistics and unsettling fourth-quarter profit releases from some of the biggest brands in the world like Microsoft and Intel, markets have stayed mainly optimistic during the past week.
Concerns have persisted, with some predicting a coming decline and perhaps new global BTC price lows as a wave of scepticism overtook the market. But since that gloomy downturn has yet to materialize, the upcoming days may prove to be a turning point for Bitcoin’s long-term trend.