The new year has been a good one for bitcoin investors who have seen monthly returns well in excess of traditional stocks.
The news has been welcome in the limping cryptocurrency world. Bitcoin and other digital assets had a terrible 2022, with the flagship cryptocurrency falling by more than 64% over the course of the year — a year that was marked by several headwinds, including the collapse of cryptocurrency giant FTX and the arrest of its once-vaunted but now-disgraced founder, Sam Bankman-Fried.
Ripple is up 20% from the start of the year, cardano has experienced a whopping 64% increase, and solana has risen by nearly 150%. Even dogecoin, the so-called “meme coin” bolstered by Tesla CEO Elon Musk, has seen its value grow by nearly 30%. Inflation remains well above the Fed's 2% target, but that and other reports add to the evidence that prices are trending down and that the recent deceleration is not an aberration but a sign that underlying price pressures are indeed falling.
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