Bitcoin Brings $40,000 Into View After More Than Doubling in a Chaotic Year
- Largest digital asset has partially rebounded from 2022’s rout
- Question is how much impetus left as token churns at $38,000
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Bitcoin’s chances of hitting $40,000 are top of mind for crypto speculators as they head into the final stretch of a year during which the largest digital asset more than doubled in price.
The token has rebounded about 130% over the past 11 months from 2022’s crypto rout, outstripping investments like stocks or gold. Hopes for Federal Reserve interest-rate cuts next year, and expectations that the US will allow its first spot Bitcoin exchange-traded funds, together created a potent elixir.