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Bitcoin Price Rebounds to Near $2,640 Following Yesterday's Losses
The price of bitcoin has rebounded after a notable fall yesterday that saw the digital currency lose over $400.
Updated Sep 14, 2021, 1:57 p.m. Published May 26, 2017, 9:29 a.m.
The price of bitcoin has rebounded after a notable fall yesterday that saw the digital currency lose over $400 to a low of around $2,352.
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Today's resurgence sees the price back up at $2,626 at the time of reporting, having hit a high of almost $2,640 at 8:57 UTC, CoinDesk Bitcoin Price Index data shows.
Most major cryptocurrencies have been on an upwards trajectory in recent months, with bitcoin hitting new all-time highs in quick succession. On 25th May, bitcoin reached a record value of almost $2,790 prior to the drop yesterday, when some other cryptocurrencies also saw notable losses.
Notably, the total market cap of all cryptocurrencies reached an all-time high just over a week ago, with some experts polled by CoinDesk raising fears of a bubble that could ultimately see sharp corrections. Others though pointed to a growing awareness of cryptocurrencies among traditional investors for the ongoing rises.
High jump image via Shutterstock
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Bitcoin gets 'base case' price target of $143,000 at Citigroup
The Wall Street bank said its bitcoin forecast relies on further crypto ETF inflows and a continued rally in traditional equity markets.
What to know:
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