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Bitcoin Price tops $23.000

Bitcoin is trading at its highest levels in months reaching 23K!

Alongside a rally in other risky assets, Bitcoin surpassed $23,000 apiece over the weekend, according to CoinDesk

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Coindesk chart on Bitcoin

It recently traded at about $22,797, down about 1% from its level 24 hours earlier, according to CoinDesk.

Before this weekend, the world’s largest cryptocurrency by market value hadn’t ended the day above $23,000 since August. Still, it remains a long way off its 2021 record end-of-day high, of more than $67,000.

The cryptocurrency’s rise marks a rebound after the November implosion of crypto exchange FTX knocked its value lower. FTX was once viewed as among the safest exchanges to trade and hold crypto, and its collapse caused some to sell their crypto holdings.

Bitcoin’s renewed momentum also boosted shares of some cryptocurrency companies. Crypto bank Silvergate Capital’s shares were recently up more than 10%.

More traditional risky assets have also gained ground recently. The Nasdaq Composite index closed Friday up 6.4% year to date.