Bitcoin Price Watch: Currency Spikes by $50027.27

At press time, the father of cryptocurrencies has jumped by $500 in just 24 hours. Yesterday, the coin had fallen to its lowest point in months, and was trading at $5,800 for most of the day. Many analysts were skeptical about potential recovery, and were certain a bear period was likely to mar bitcoin’s progress for weeks or even months on end.

While it’s impossible to say if this jump is part of a short-term or long-term period of improvement, investors and traders are likely breathing a sigh of relief now that the currency has once again moved into the $6,000 region.

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