Bitcoin defies its doubters in 2023

23 Dec 2023

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Crypto investors must remember that they still have to report such transactions and must make sure they comply with all the tax requirements. Photo: Chesnot/Getty Images

If 2022 was the year that "broke bitcoin", 2023 has been the year of trauma recovery.

Bitcoin has bounced pluckily in the face of depressed crypto prices, low trading volumes and tough economic conditions. It even found a second wind in October following a summer slump.

"We've had a nice recovery, but we're just in the cusp of the new cycle," said Kevin Koh, co-founder and managing partner at investment firm Spartan Group.

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