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Bitcoin recovers more than $1,000 after losing almost a third of value

Bitcoin is up more than 500 percent so far this year

Reuters  |  London 

Bitcoin surged on Monday, recovering more than $1,000 after losing almost a third of its value in less than four days as traders bought back into the volatile cryptocurrency. Bitcoin tumbled in the second half of last week, falling as low as $5,555 on the Luxembourg-based Bitstamp exchange on Sunday, a slide of almost 30 percent from a record high just shy of $7,900 on Wednesday.. It rebounded on Monday, trading up more than 14 percent on the day at $6,718, though that was still more than $1,000 less than last week's record high. Market-watchers said the fall had been ...

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First Published: Mon, November 13 2017. 21:04 IST