Resurgence

Bitcoin rebounds 80% in 2023 amid US banking system turmoil

Cryptocurrencies are making a comeback in 2023, with Bitcoin rallying by 80% above last year’s value, despite still being almost 50% down from its record high of US$69,000 in November 2021. This resurgence is partly due to improving macroeconomic conditions and the deteriorating state of the US banking system, which has led investors to seek alternatives to traditional financial instruments.…