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Cryptos - Bitcoin Prices Jump Back Above $4K in Impressive Turnaround

Published 09/18/2017, 09:48 AM
Updated 09/18/2017, 09:48 AM
Bitcoin soars back above the $4,000-level

Bitcoin soars back above the $4,000-level

Investing.com - Bitcoin, the world's biggest digital currency by market cap, surged back above the $4,000-level on Monday in an impressive bounce back from last week's heavy losses.

Bitcoin was last up about $400, or around 11%, at $4,068.60 by 9:45AM ET (1345GMT).

The digital currency lost more than $1,000 in value last week and dropped below $3,000 per coin for the first time in over a month, with the sell-off driven in large part by fears of China cracking down on the market as well as a warning from JPMorgan (NYSE:JPM) CEO Jamie Dimon that bitcoin was a "fraud".

Despite the recent fall, the digital currency is still enjoying a remarkable year, with prices up almost 350% since the start of the year, beating just about every other asset class.

Ethereum, Bitcoin's closest rival in terms of market cap, gained 15.6%, or $40.10, to $297.25.

Other prominent cryptocurrencies such as Litecoin, Ripple and Bitcoin Cash also traded higher.

The total value of all publicly traded cryptocurrencies was approximately $139 billion.

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