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Bitcoin Price Briefly Revisits $40,000 as Bulls Pare Week's Losses
Bitcoin has rallied nearly 15% in the past 24 hours. Ether hits $1,200.
Bitcoin briefly broke above $40,000 again Thursday morning as the market reversed the bulk of its losses from Monday.
STORY CONTINUES BELOW
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- The leading cryptocurrency rose to $40,066.32 before settling back to $39,521.46, up 14.25% in the past 24 hours, per CoinDesk's Bitcoin Price Index (BPI).
- Over the weekend and into early Monday morning, bitcoin dipped nearly 30% from its peak just below $42,000. The move prompted CNN Business writer Paul La Monica to declare bitcoin in a bear market.
- With the downturn seemingly over, other cryptocurrencies are following bitcoin, with ether reclaiming $1,200, up 13%.
- Polkadot has gained 21% and litecoin is up 11% in the past 24 hours, per market data from Messari.
Zack Voell
Zack Voell is a financial writer with extensive experience in cryptocurrency research and technical writing. He has previously worked with leading cryptocurrency data and technology firms, including Messari and Blockstream. His work (and tweets) has appeared in The New York Times, Financial Times, The Independent and more. He owns bitcoin.
