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Bitcoin surges 8% to $ 32,000 as the crypto market recovers

Bitcoin surged more than 8% on Wednesday to trade above $ 32,000 as the world’s most popular cryptocurrency rebounded from the brutal rout the day before.

As of 1:00 pm on Wednesday, Bitcoin was trading at $ 32,064. This is an increase of 8.3% over the last 24 hours. According to CoinDesk’s Bitcoin Price Index..

Turnaround comes after Tuesday’s Bitcoin Below $ 30,000 For the first time in a month, it wiped out $ 40 billion from the crypto market. Some investors consider $ 30,000 to be an important threshold for digital coins.

Other cryptocurrencies also rebounded on Wednesday, Ethereum Up 10.1% to $ 1,961 XRP According to CoinDesk, Dogecoin has risen from 16.0% to 20 cents in the last 24 hours, up 7.3% to 57 cents.

Wednesday’s recovery will certainly please crypto fans, but Bitcoin is still worth less than half that Record high of about $ 65,000 During April.

Digital coins are declining as regulators around the world take stricter policies towards cryptocurrencies.

In China, the government Punch out the entire crypto operator The country attacks the Bitcoin mine, Arrested over 1,000 people Allegedly used cryptography in June to launder profits from fraud.

A visual representation of Bitcoin, the digital cryptocurrency, is displayed.
Some investors consider $ 30,000 to be an important threshold for digital coins.
Getty Images

Meanwhile, in the United States, Federal Reserve Board Chairman Jerome Powell talks about cryptocurrencies. Bringing risks to individual investors And the broader financial system — and the Treasury has begun demanding that cryptocurrency transfers worth more than $ 10,000 be reported to the Internal Revenue Service.

While some crypto proponents see government involvement in the digital currency space as a sign of increasing legitimacy, skeptics say regulation can kill enthusiasm for assets.

Additional report by Will Feuer

Bitcoin surges 8% to $ 32,000 as the crypto market recovers

Source link Bitcoin surges 8% to $ 32,000 as the crypto market recovers

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