Before anyone comes to the section to drag me or talk about the fact that Bitcoin is down 80% plus from its previous all-time high at 69k and that the bear run or bearish market has been on for almost 2 years now, I want to tell you that I know and that I am not ignorant of those facts. But since Bitcoin hit the $15k level last year some people were expecting it to hit $10k or below after FTX collapsed. Bitcoin came in this year with a bang and it is up 65% plus since the huge dip caused by FTX and its native token FTT crash. Bitcoin has been on fire, surging by an impressive 67% year-to-date, solidifying its status as one of the standout performers in the world of investments this year and the bull run has not started yet.
Bitcoin's performance reflects its growing acceptance as a store of value, especially from Wall Street giants like Blackrock, Vanguard, and co fighting for Bitcoin ETFs that The Securities and Exchange Commission (SEC) has refused to approve for now but let us see how it goes, The Securities and Exchange Commission (SEC) might eventually approve them, especially since they lost their court case against XRP (Ripple) after so many years.
Factors such as increased institutional adoption, economic uncertainty, Banking system failure, and technological advancements have all contributed to Bitcoin's strong show force and Crypto takeover of the Financial Sector.
Bitcoin's incredible growth this year definitely deserves a round of applause but we are still below $30k level. It is great to see Bitcoin flourishing as one of the top performers in the market, while it hate run and hide with their tails between their legs. They should Just wait till the Bitcoin halving, Bitcoin pump will give people life changing money.
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