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Bitcoin passes $16,000 as rebound begins

The tokens rose 16 per cent to as much as $16,039.51, the biggest gain on a closing basis in more than two weeks and the first in six days

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Tugce Ozsoy | Bloomberg 

Bitcoin rallied past $16,000 on Tuesday as traders of the world’s biggest digital currency sought to draw a line under its roller coaster five-day slump. The tokens rose 16 per cent to as much as $16,039.51, the biggest gain on a closing basis in more than two weeks and the first in six days. Rival currencies litecoin and ethereum were up 4.4 per cent and 2.6 per cent, respectively, according to data compiled by Bloomberg. The gains will be a welcome relief for crypto bulls, after bitcoin declined 26 per cent in the five days through Monday in what was seen as a major test ...

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First Published: Wed, December 27 2017. 04:00 IST
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