How has Bitcoin performed recently?
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Recent performance of Bitcoin has shown notable fluctuations:
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Weekly Performance: Bitcoin had a slight dip recently. After hitting a new all-time high last week, it fell by 7%. Despite this, it remains strong at above $60,000, marking a healthy month. Last week's high was $64,000, but it closed at around $61,000 1.
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Volatility and Institutional Interest: Bitcoin's recent volatility, dropping from $69,000 to around $30,000, has created buying opportunities for institutions. Experts believe that despite these price swings, Bitcoin remains a compelling long-term investment. Leverage in the market has contributed to significant short-term fluctuations 2.
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Long-term Performance: Since mid-2020, Bitcoin has outperformed many traditional assets. It has increased by 43% compared to other investments, like gold and bonds, which have underperformed. Even amidst volatility, for long-term holders, Bitcoin has proven to be a valuable store of value 3.
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