Bitcoin Drop Sets Up First Back-to-Back Weekly Loss Since March
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It turns out that the Bitcoin faithful still like to party even after the annus horribilis that shook the digital-asset world in 2022. They’re just a little more subdued this year.
Devotees of the largest digital token gathered in Miami Beach this week for the Bitcoin 2023 conference — to commiserate, but also to celebrate getting past last year’s string of calamities, including the blowup of the FTX exchange. Though that period was painful, crypto prices have managed to recover this year, with Bitcoin adding 60% to trade around $26,800, from $16,600 at the start of 2023 — a development that was hard to miss at the conference’s expo floor, where the price of Bitcoin was plastered everywhere. Absent were reminders that it traded at almost $69,000 in late 2021.
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