AI coins, the SBF trial and the Bitcoin comeback were the biggest crypto stories of 2023

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Last Updated on 4 March 2024 by CryptoTips.eu

As the year draws to a close, most of us are already looking ahead to what 2024 will bring for digital currencies. But before we can do that and prepare for the 2024 ‘halving’, we first need to recap the biggest stories of 2023. A quick overview.

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AI coins

In recent years, crypto produced several new words and technologies. Just think of NFTs, DeFi (decentralized finance) and memecoins. In 2023, mainly thanks to the discovery of ChatGPT, the term ‘AI coins’ was added.

These were coins trying to capitalize on the growing popularity of all things artificial intelligence.

“The demand for AI investments has found its way into crypto,” explained Ram Ahluwalia of investment firm Lumida Wealth Management. “Crypto tokens linked to AI have emerged as one of the strongest crypto investing themes.”

SBF trial

The Sam Bankman-Fried trial in October and November was the highlight of crypto in the worldwide media this year. After the guilty verdict was reached, it seemed as if US investors and Wall Street were able to turn the page, see crypto as an investable business again and send Bitcoin (and other currencies) steadily higher.

Sam will know how many years he’ll have to spend in prison around March 2024. The measure of his sentencing will send a message to any future crypto CEO’s who wish to swindle.

Bitcoin’s comeback

In January of this year, many thought Bitcoin would not survive the year. Worth around €15,400 ($17,000), things were looking bad after a disastrous 2022 (which had seen popular coins like Terra, Luna and FTT go under).

But after a minor banking crisis in February and March, the price rose neatly to $25,000. The summer was fairly quiet and after it became known in September that some companies on Wall Street wanted to launch a Bitcoin ETF (exchange traded fund), things suddenly took off very quickly. After the conviction of SBF, Bitcoin reached $45,000 in December and by now, no one believes that the crypto party will end anytime soon.

The halving is coming and Wall Street seems ready to invest. We cannot wait for 2024 to start.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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