Bitcoin (BTC) 2023 Rise Continues, With Crypto now over $20,000 for the first time since FTX collapse in early november. CoinDesk reports: The largest cryptocurrency by market capitalization started the week near the $17,000 mark after hovering in the mid-$16,000 zone since mid-December. Now at $20,250, bitcoin has gained more than 20% in the first two weeks of this year. Still, the crypto, which topped $65,000 in November 2021, remains near the low end of a brutal bear market. In fact, $20,000 "one time [was] considered a worrisome low, but now potentially represents a sign of revival," according to Craig Erlam, senior market analyst at forex market maker Oanda.
Ether (ETH) is also moving nicely to the upside, up more than 20% year to date and threatening $1500 for the first time since early November. The CoinDesk Market Index (CMI) is up 14% for the week. Crypto-related stocks also benefited from this week's rally: Exchange Coinbase (COIN) rose 39%, while bitcoin miner Marathon Digital Holdings (MARA) surged 76%.
