Bitcoin has suffered a sharp pullback from record highs. The world's biggest cryptocurrency fell to $66,885 in the early hours of Friday - down 9%. Only yesterday, the digital asset had been touching an unprecedented price of $74,000. It is difficult to pinpoint a single reason for Bitcoin's sudden contraction, as several are at play.
This is next scheduled to take place in April, meaning just 450 BTC a day will be created. Overall, Bitcoin's maximum supply stands at 21 million - and enthusiasts argue this scarcity is what makes it so valuable. Another new development this year is the approval of BTC exchange-traded funds in the US, which allow American investors to gain exposure to Bitcoin's price without owning it directly.
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Source: TIME - 🏆 93. / 53 Read more »