Bitcoin and other digital currencies are surging as the market continues to recover.
The price of every big digital currency has risen by significant amounts. Bitcoin, the biggest of them, has risen nearly 13 per cent over the last day and is nearly at $10,000.
Cryptocurrencies are continuing to make back many of the losses sustained when the market plunged in recent weeks. They are still far from the heights of December – when bitcoin nearly hit $20,000 – but are a long way from the dramatic lows hit when the price dropped after that.
Gadgets and tech news in pictures
Every single one of the top 50 biggest digital currencies is up over the last 24 hours, according to the site CoinMarketCap. Many of them, including bitcoin, have risen well over 10 per cent.
Bitcoin has risen more than 700 per cent over the last year, and digital currencies are outperforming every other kind of asset. That rise has brought with it new attention – but for the most part that has also led to more people pouring money into the market, and rising prices.
The cryptocurrency market has been hit by a number of fears and concern in recent weeks. Regulators continue to suggest that they could clamp down on the market, and hacks and other cybercrime have blighted the market and the exchanges that power it.
But that hasn’t stopped it from reaching record heights in recent months. Even the current price of bitcoin, while well below the record sustained in December, is much higher than it had ever been at any point before the end of 2017.
The Independent’s bitcoin group on Facebook is the best place to follow the latest discussions and developments in cryptocurrency. Join here for the latest on how people are making money – and how they’re losing it.