[In -depth exploration] Bitcoin: The rise of the rise of 400%since 2019 and the market dynamic analysis in 2023

Since 2019, Bitcoin has experienced amazing growth, and in 2023, it reached a 400%increase. This remarkable recovery marks a strong return from Bitcoin from the trough of 2019 and becomes the dominant force in the digital currency market. This report summarizes the insights of multiple analysis and market reports to comprehensively outline the growth process of Bitcoin and its future prospects. First of all, from the perspective of market performance, the price of Bitcoin increased by more than 172%in 2023, and in December reached about 44,500 US dollars. This violent growth began in October, when Bitcoin broke through the key resistance level of $ 30,000 and started a trend of watching. The market performance throughout the year also shows the toughness of Bitcoin. The maximum price correction is only 20%, which indicates that the market has strong support for the market, and investors are full of confidence in Bitcoin's recovery. In terms of indicators on the chain, Long-Term Holders (LTHS) has now controlled more than 76%of Bitcoin supply, and most of them have been held for more than 155 days. This trend has led to more than 90%of Bitcoin holders in a profit state, which is in sharp contrast to the loss of many holders in 2022. In addition, the launch of technological innovation, such as Ordinals and Inscriptions, significantly increased chain activities, and the transaction volume and miners' income have increased significantly. The change in market structure is also an important feature of this year. Tether (USDT) regained the leading stable currency status after experiencing supervision and challenges, and its market share was significantly rising. At the same time, the participation of institutional investors has also risen. The number of unbound contracts in the regulatory futures market of CME surpassed the offshore exchange like Binance, showing that the institutional attaches increasing attention to Bitcoin. In terms of technological progress, the upgrade of the Bitcoin network and the Shanghai upgrade of Ethereum jointly enhanced the functionality of Bitcoin. The introduction of new token standards such as the BRC-20 has expanded the practicality and trading capabilities of Bitcoin, laying the foundation for future development. Looking forward to the future, in April 2024, the next Bitcoin will be reduced. This history will usually lead to rising prices. In addition, the U.S. Bitcoin -based ETF potential approval may further enhance investors' confidence and the confidence and Market dynamics. From the point of view of the timeline, since 2019, Bitcoin has experienced a series of important events: gradually recovering in 2019, major losses in the market in 2022, briefly squeezed in January 2023 to promote Bitcoin breakthrough resistance, exceeding 30,000 October in October, October exceeded 30,000 in October The US dollar ended in December with increasing transaction volume and profit holdings. In multiple analysis sources, GlassNode's report emphasizes the role of long -term holders in stabilizing the market, and pointed out the record of Bitcoin they hold. In addition, the report of Bushnell GCM & Cryptocurrency detailed the psychological impact of breaking the resistance level of $ 30,000, and compared the current market cycle and previous before.