Bitcoin reclaims $50,000, hits one-week high as risk appetite returns

The cryptocurrency was last trading at $51,607

Bitcoin climbed to a one-week high as risk appetite in markets returned and investors considered the regulatory issues facing cryptocurrencies.
 

The digital token climbed 7 per cent to trade above $50,000 in early London trading. It was last trading at $51,607.

On Tuesday, prices dipped 2.9 per cent after Gary Gensler, nominee for chairman of the US Securities and Exchange Commission, said that making sure crypto markets are free of fraud and manipulation is a challenge for the agency.
 

Gensler, who served as a Commodity Futures Trading Commission chairman during the Obama administration, has been viewed as a strong