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While most areas of financial markets are lower one week into the new year, bitcoin is already up double-digit percentage points. Since bottoming in late 2022, bitcoin has now rallied just under 200%, and as shown in the chart below, its price is starting to get back up to levels that have only been seen for a brief period of time back in 2021. In fact, at $46,800, bitcoin has only traded higher on 6.14% of days since the start of 2017 when it first crossed above $1,000.
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