Bitcoin is headed for its best start to the year since 2013 as risk appetite grows ahead of expected smaller Fed rate hike

• Bitcoin's price has surged 40% since the beginning of the year, according to Messari.
• The rally comes ahead of expected smaller rate hikes from the Federal Reserve next week.
• Other cryptos are rebounding too as the industry regains its $1 trillion market cap.

Bitcoin is on track for its best January since 2013 as the prospect of slower rate hikes from the Federal Reserves has increased the risk appetite among investors.

On Friday, the token dipped 0.3% to $23,000. But it's up 40% so far this month, according to Messari, and eyeing the 51% jump seen in January of 2013. 

Other cryptos are continuing to rebound as the industry regains its $1 trillion market capitalization. Ethereum is up 32% in the past month.