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Bitcoin Retreats from Record Highs

M. Ali 16 February, 2021 2:49 am Cryptocurrency, Market Update

The price of Bitcoin declined on Monday, after nearing $50,000 on Sunday, rising by 5% and reaching a new record high.

The world’s largest cryptocurrency is down by 1.57% over the past 24 hours, reducing its gains over the past seven days to a little over 9%.

Bitcoin recently received support from increased demand for the digital currency, amid interest from institutional buyers led by Tesla, which invested $1.5 billion in Bitcoin.

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