The price of Bitcoin will rise to a record in the upcoming quarter of 2023; the last time such a jump in its price was recorded in 2021, Bloomberg reported.

Bitcoin has registered a 70-percent increase since the beginning of the year. Part of the effort to support liquidity in the US banking sector has been a positive factor for risk assets and helped cryptocurrency and gold, said Chris Weston, Head of Research at Pepperstone Group.

Bitcoin's resurgence has helped the digital asset market in 2023, the value of the token increased by nearly $390 billion, after last year's $1.5-trillion decline.

Currently, the Bitcoin price has remained at the level of $28,000, but analysts expect a continuation of the record growth.

Bitcoin moves in a bull pattern, calculations note about $35,000, and the current conditions are a tailwind for Bitcoin, said Tony Sycamore, a market analyst at IG Australia.

Some analysts claim that the growth of the token is related to the fact that they consider it as a way to protect themselves from the problems of the US and European banking systems and to mitigate the consequences of these problems for the economy.