Bitcoin Rises 11%, Bounces Back To $3,400

On Monday Bitcoin had a little recovery, finally topping the $3,400 level after weeks of fall.

Bitcoin has fallen by more than 80% from the all-time high hit exactly a year ago.

December 17, 2017 bitcoin peaked just above $19,475, according to CoinMarketCap.com. It has struggled to come anywhere close to that level since.

Yesterday was its best daily performance since end of November, prior to industry data site CoinDesk. Bitcoin jumped 11% to a high of $3,437.57, but has dropped by more than 50% in the past three months.

With this new concept, crypto assets are still finding their feet in terms of value.”It’s important to remember that all assets, in every market, experience a process of price discovery, and that cryptos are no different said Mati Greenspan, senior market analyst at eToro.

Note: This was first published by CNBC

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