Bitcoin has struggled to make gains over the last month, with a brief foray over $50,000 proving short-lived even as one major bank predicted the bitcoin price could soon double.

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The bitcoin price hit $52,000 per bitcoin early last week before crashing to under $45,000 as a viral plan to shore up the bitcoin price flopped. The crash wiped around $300 billion from the combined bitcoin and crypto market that’s currently hovering around $2.1 trillion.

Now, data has revealed bitcoin exchange reserves, the amount of bitcoin held on the likes of Coinbase and Binance, have dropped to lower than they were in November last year—when the bitcoin price began its huge run that peaked at almost $65,000 in April.

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