Bitcoin prices have slipped for now, but data suggests a long-term rally is ahead – CNBC

An illustration showing the cryptocurrency bitcoin with a price chart in the background.

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Bitcoin pulled back this week after surpassing $50,000 last weekend for the first time in about three months, but strategists say the cryptocurrency’s price still has room to run.

The largest cryptocurrency by market cap fell as low as about $46,000 Thursday after spending most of the week hovering in the $47,000 range. It bounced slightly Friday and last traded at $48,253.96, according to Coin Metrics.

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