As Bitcoin continues to rise, there is a heated discussion among crypto enthusiasts about when it will reach and surpass its previous all-time high. However, many factors have changed since that previous peak on November 23. If Bitcoin were to return to its record price of $21,926 per coin, it would be in a different economic landscape, affected by factors such as inflation rates in the U.S. Could the actual target be nearer to $219,20093? According to the U.S. Bureau of Labor Statistics’ Consumer Price Index (CPI) inflation calculator, the value of a Bitcoin in November 2009 would be significantly higher today. Following its peak, Bitcoin’s value declined by more than fifty percent during the crypto bear market. One year after peaking, Bitcoin was priced at $22024.22. Despite this, inflation persisted at a consistent rate of 4% to 8% annually, while the price of Bitcoin gradually increased to over $30,000 last April and exceeded $40,000 by December, reaching its current levels. Additionally, inflation outpaced the rate of Bitcoin’s available supply during this time. In December 2019, there were a total of 18,915,566 Bitcoins in circulation. The number has gone up to 19,629,19 in February 2024, representing an increase of 713,707, or approximately 3.8 percent. Given Bitcoin’s often touted role as a hedge against inflation, one might wonder how the top cryptocurrency has fared during the current period of inflation in the United States. A recent post on the r/Cryptocurrency subreddit ignited a lively discussion about the topic. These calculations should also factor in the upcoming Bitcoin halving event, where the amount of Bitcoin rewarded to miners will be reduced by half.