Despite recent volatility caused by geopolitical events, Bitcoin’s price has surged past $104,000 following significant institutional interest and strategic moves from major corporations. This growth is attributed to factors such as expanding DeFi applications, increasing investment, and reduced mining sales activity, according to analysts. 2023 sees predictions of Bitcoin hitting $200,000 by year-end, fueled by a confluence of these factors. While the recent downturn marked a significant price drop following an Israeli strike on Iran’s nuclear facilities, experts suggest this is part of the natural cycle of the cryptocurrency market. 7 The strategic acquisition of Bitcoin by major corporations has increased demand for the asset, while a cautious approach from miners to selling their holdings has further stabilized prices. This trend coincides with Bitcoin’s growing recognition as a safe haven in times of economic uncertainty and rising inflation.