Bitcoin Rebounds to Surpass $16,000 as Five-Day Selloff Ends
- Largest digital token climbs as much as 17 percent Tuesday
- El-Erian: Question now is whether correction was ‘healthy’
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Bitcoin’s rebound took it briefly above $16,000 on Tuesday as traders of the world’s biggest digital currency sought to draw a line under its roller coaster five-day slump.
The tokens rose to as much as $16,132.09 and were poised for the biggest gain on a closing basis in more than two weeks and the first in six days. It traded higher by 15 percent to $15,860 as of 4:09 p.m. in New York. Rival currencies litecoin and ethereum were up 5.6 percent and 2.5 percent, respectively, according to data compiled by Bloomberg.