RATE Group | Bitcoin jumps 15%, lifting cryptocurrency market value by $20 billion 
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Bitcoin jumps 15%, lifting cryptocurrency market value by $20 billion 

28 Nov Bitcoin jumps 15%, lifting cryptocurrency market value by $20 billion 

Posted at 23:10h in Cryptocurrency News by

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Bitcoin saw a double-digit rebound Wednesday after weeks of struggling to recover above the $4,000 mark.

The world’s largest cryptocurrency spiked as much as 16 percent, hitting a high of $4,341.44, according to data from CoinDesk.

The upward move was an abrupt turnaround from bitcoin’s terrible Thanksgiving week. The cryptocurrency tanked 35 percent over seven days, falling below $3,500 for the first time in 14 months. At one point, it was down 80 percent from its all-time high and within range of its worst-ever bear markets.

Other major cryptocurrencies also rallied Wednesday afternoon. XRP, the second largest by market cap, rose 12 percent. Ether, the third biggest, was up 14 percent, according to CoinMarketCap.com. The entire cryptocurrency market capitalization rallied…

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