Economic news

Bitcoin bounces back from last week's huge fall

Bitcoin climbed 10 percent in holiday-thinned trading on Tuesday, recovering from last week’s trough of below $12,000.

Bitcoin dropped almost 30 percent on Friday to $11,159.93. On Tuesday, it traded $15,049 on the Luxembourg-based Bitstamp exchange.

The world’s biggest cryptocurrency had jumped around twentyfold since the start of the year, rising from less than $1,000 to as high as $19,666 on Dec. 17 on Bitstamp.

While traders believe the decline in bitcoin value was a natural correction after a heady run-up in prices, there have been further warnings from market regulators and central banks.



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