Home Bitcoin Bitcoin continues its recovery, above $8000

Bitcoin continues its recovery, above $8000

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Bitcoin continued to move above $8,000 on Thursday, taking a cue from global equity markets, which appeared to be stabilizing somewhat after a week of extreme volatility.

The price of a single bitcoin BTCUSD, +2.18% gained 6.7% to $8,091.23, bouncing off a session low of $7,576.25, according to CoinDesk data. The price of bitcoin remains well below a level of $10,000 seen a week ago, and its December peak above $19,000, but has recovered from a drop below $6,000 on Tuesday.

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Ether, the coin on the ethereum network, saw a similar rise, up 6.3% to $806.63, while bitcoin cash was at $995.25, up 3.5%. Litecoin rose 2.7% to $142.66, and Ripple gained 3.4% to 75 cents, CoinDesk prices indicated.

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February Bitcoin futures on the Cboe Global Markets XBTG8, +0.06%  slipped 2.4%, to settle at $8,040, while those on the CME Group Inc. BTCG8, +0.79%  fell 3.6% to $7,970.

Cryptocurrencies have drawn some support this week from a Senate hearing to discuss regulations for the industry , which was viewed as generally positive. But bitcoin and its rivals have been not escaped the volatility that has at times whipsawed global equity markets.

Read:‘Hodling’ bitcoin: The term is so popular, it made it into Senate testimony

This article was curated from Google News. You can read the original article here.

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