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Bitcoin rebounds from 3-month low in volatile trade to rise more than 7%

The original cryptocurrency gained more than 1,300 percent last year

Reuters  |  New York 

Bitcoin recovered from three-month lows below $6,000 in choppy trading on Tuesday, but worries lingered about a global regulatory clampdown and moves by banks to ban buying bitcoin with credit cards. Investors swooped in after a steep fall. On the Luxembourg-based Bitstamp exchange, bitcoin hit $5,920, its lowest since mid-November, before recovering to above $7,000. It was last at $7,260 in late morning trading in New York, up roughly 6 percent on the day. "The recent weakness in bitcoin stems from tightening liquidity and near-term profit taking, and does not reflect a ...

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First Published: Tue, February 06 2018. 22:19 IST