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Bitcoin gains 72.4% QoQ, top-performing asset in Q1

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Bitcoin, the premier cryptocurrency, had an impressive 72.4% quarter-over-quarter gain in Q1 2023, according to a BitcoinCasinos.com report, compared to the NASDAQ index that jumped 15.7%, while gold had an 8.4% increase.

Buoyed by positive inflation data, the US Dollar Index (DXY) remained fairly unchanged. And while all major asset classes ended the quarter with positive returns, crude oil decreased by 6.1%.

“Bitcoin’s Q1 performance is a testament to its resilience and growth potential amidst a volatile and uncertain global market,” said BitcoinCasinos financial expert Edith Reads.

“Since its inception, BTC has been battling several hurdles, including regulatory crackdowns, hacking incidents, and market fluctuations.

“Bitcoin’s impressive gains clearly indicate its resilience despite the volatile market conditions,” added Reads.

“With the increasing institutional adoption and global recognition, the asset class is proving to be a reliable store of value for investors and traders alike.”