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Bitcoin’s (CRYPTO: BTC) price peaked at an all-time high of $126,198 on October 6, 2023, but has since fallen to around $85,000, reflecting a 9% decline year-to-date, leading to it giving up all gains made earlier in the year. This decline is attributed to elevated Treasury yields and a challenging macro environment.
With a market capitalization of $1.7 trillion, Bitcoin remains the world’s most valuable cryptocurrency. As of now, about 19.9 million of the fixed maximum supply of 21 million coins have been mined, with the last expected to be mined by 2140. Investors are still optimistic, with projections suggesting it could gain value significantly over the next few decades.
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