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Bitcoin slips 13 pct on profit-taking but on track for biggest gain in 8 months

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Bitcoin fell on Wednesday to its lowest in a week and a half, taking losses since its all-time high to over 13 percent -- though the digital currency is still on track for its best month since February.

Bitcoin, the world’s largest cryptocurrency, fell as much as 3.7 percent to $58,100, its lowest since Oct. 15. It has lost 13 percent since it hit an all-time high of $67,016 on Tuesday.

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Bitcoin’s losses were down to traders taking profit from its recent rally, said Tony Sycamore, analyst at Australian investment platform City Index.

The digital currency has notched up gains of almost 35 percent so far this month, which if maintained would be its best performance in eight months.

Read more: US biggest bitcoin miner after China crackdown: Cambridge study