Cryptocurrencies are pushing higher in 2023 despite a banking crisis, rising interest rates, and a slew of new legal and regulatory headaches for the fledgling industry.
Bitcoin, the largest and best-known digital currency, rose 69% in the three months ending March 31, while ether, the second-largest, was up 51%. Bitcoin (BTC) is currently hovering near $28,000 while ether (ETH) on Wednesday climbed above $1,900 per coin, its highest level since September of last year. Both are relatively flat over the last 24 hours.
Even Dogecoin (DOGE), a cryptocurrency that began as a joke, shot 30% higher Monday after Elon Musk swapped Twitter’s bird icon with the Dogecoin’s Shiba Inu logo. Doge forfeited some of these gains on Thursday when Twitter’s logo was swapped back.