Could This Feature Make Bitcoin Go Parabolic in 2023?
While 2022 was a down year for cryptocurrencies, with Bitcoin (CRYPTO: BTC), the most valuable asset in the industry, losing 65%, things are taking a positive turn in 2023. As of Jan. 21, Bitcoin is up 36% so far on the year, and bullish supporters are hoping this is a microcosm of what's in store over the next 12 months.
It's really anyone's guess where Bitcoin's price goes next. But an exciting feature could carry this top cryptocurrency to new heights in 2023. Let's take a closer look.
Since its first verified transaction in January 2009 until now, Bitcoin has primarily only been used as a store of value. Bitcoin's defining characteristic, which is that there will only ever be 21 million coins created, makes many believe that as demand to own it increases over time, the fixed supply translates to a higher price. The comparison you've most likely heard is that Bitcoin is like a digital version of gold, a novel way to store wealth in a world that is only becoming more digital.
Source Fool.com
