According to Crypto Rank, bitcoin closed the first quarter of 2023 with a gain of 72.3%. This is the biggest gain since the first quarter of 2021.
The quarter was successful for BTC due to several important factors. According to experts, the Fed is close to the end of the interest rate hike cycle. Moreover, if last May the regulator gravitated towards balance rate reduction, now it adheres to the opposite principle. This and a number of other factors point to bullish signals.
In addition, the performance of the first cryptocurrency significantly exceeded the performance of major stock indices and funds. For example, the return on the S&P 500 in the first quarter of 2023 was 5.5%, the Nasdaq 100 was 19%, ETF iShares 20+ Year Treasury Bond was 5.3%.
