Kaiko: Bitcoin to Be One of the Best Performing Assets in 2023

Kaiko Research, a data provider, predicts that Bitcoin's performance this year will outpace major traditional assets. Despite challenging macroeconomic conditions and resistance in the crypto industry, Bitcoin has surged over 160% in 2023. Only a few company stocks have outperformed Bitcoin, notably NVIDIA Corp (NVDA), whose stock has risen by 241% year-to-date, surpassing Bitcoin's surge (163%).

Kaiko's analysis divides BTC's price movements throughout the year into three phases. From March to October, BTC's trading price remained mostly between $25,000 and $30,000, followed by a significant decline, hitting multi-year lows in mid-2023. However, with BlackRock applying for a Bitcoin spot ETF on June 15, Bitcoin's price surged above $40,000.