Despite a Tough Year, Bitcoin Maintains a 400% Increase Since its Low Point in the Cycle

Crypto markets have seen a drop this year, with Bitcoin down around 8%. Despite this, analysts point out that Bitcoin still showed a significant increase of 468% in the two years before this year, a much higher return than US stocks. They argue that this year merely saw a slight reduction in the excess returns Bitcoin had previously enjoyed. The current market situation has been compared to the COVID crash and other major market events, yet there are a number of positive factors including pro-crypto policy in the US and institutional adoption. Bitcoin continues to trend upwards on a yearly basis, with its price still over 400% higher than it was in December 2022.