Cryptocurrencies
Bitcoin Bounces Back After Dropping to Lowest Level Since May
- Largest token gains as much as 9.2% to trade above $7,000
- Bitcoin poised for a recovery in 2020: Bloomberg Intelligence
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In one of its biggest price swings in months, Bitcoin roared back from the dead on Wednesday to once again climb above $7,000.
Bitcoin gained as much as 9.2%, its largest increase in eight weeks, as investors piled back in following an extended slump that had pushed it to the lowest level since May. The largest cryptocurrency had dropped to as low as $6,436 this week before staging a recovery to $7,226 in New York trading, a swing of about 12%.