RATE Group | Bitcoin jumps 11%, rebounding above $3,400
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Bitcoin jumps 11%, rebounding above $3,400

17 Dec Bitcoin jumps 11%, rebounding above $3,400

Posted at 22:59h in Cryptocurrency News by

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Bitcoin staged a minor recovery on Monday, finally topping the $3,400 level after weeks of pain.

The cryptocurrency has nosedived by more than 80 percent from the all-time high hit exactly a year ago. On December 17, 2017 bitcoin peaked just above $19,475, according to CoinMarketCap.com. It has struggled to come anywhere close to that level since.

Monday’s move was its best daily performance since the last week of November, according to industry data site CoinDesk. The cryptocurrency jumped 11 percent to a high of $3,437.57, but has dropped by more than 50 percent in the past three months.

“As a relatively new concept, cryptoassets are still finding their feet in terms of value,” said Mati Greenspan, senior market analyst at eToro. “It’s important to remember that all assets,…

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