close video Bitcoin fundamentals at all-time high: Perianne Boring
Chamber of Digital Commerce founder and president Perianne Boring discusses the state of crypto after the FTX scandal on ‘The Claman Countdown.’
The new year has pumped new life into Bitcoin and other cryptocurrencies.
After a dismal 2022, Bitcoin has come roaring out of the starting gate in the first two weeks of the year gaining in 13 of the last 15 days.
The cryptocurrency rising more than 24% during that stretch to $20,728. That compares to the last 52 weeks in which bitcoin lost more than 54%.
Bitcoin was above $45,000 to start 2022, as the crypto industry started making inroads with politicians and mainstream financial institutions.
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Bitcoin has gained in 13 of the last 15 days. (Fernando Gutierrez-Juarez/picture alliance via Getty Images / Getty Images)
The year ended with bitcoin below $17,000.
Keep in mind, bitcoin's all-time high was $67,802.30, reached in November 2021.
A steady industry decline started in May with the collapse of Terra, a so-called stablecoin.
Investors lost tens of billions of dollars and a number of crypto companies faced financial ruin.
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More companies have declared bankruptcy since, the biggest of all being the collapse of FTX and the arrest of the company's founder Sam Bankman-Fried.
Sam Bankman-Fried leaves Federal Court in New York City on Thursday, Dec. 22, 2022. The former CEO of FTX and Alameda has been released on $250M bail. (Charles Guerin/Abaca for Fox News Digital / Fox News)
Traditional markets have also been doing well with stocks finishing last week with the best weekly performance in two months as earnings season got underway and inflation numbers moved lower.
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Year-to-date, the S&P is up 4% and the Nasdaq gained nearly 6%.
Ether, the coin linked to the ethereum blockchain network, is at $1,583, a gain of nearly 23% in the past week.
Even the smaller dogecoin has rallied more than 20% in the past week to 8 cents.
The Associated Press contributed to this report.