It’s green again! Bitcoin has recovered and is performing strongly, gaining 6.3 percent in the past 24 hours. The currency hit $3,680 earlier today, a level it last hit on Thursday. At press time, the currency was trading at $3,636 according to data from CoinMarketCap. In some markets such as the Hong Kong-based HitBTC, the currency was trading north of $3,750 and was showing no signs of regression any time soon. The bounce back is especially crucial given the bloodbath that usually occurs during weekends.
With the market having sunk to new yearly lows in the past month, the question about where the bottom really lies has been constantly debated. While no one knows for certain as unpredictability has been one of the key tenets of the industry, it’s beginning to look likely that $3,280 may just be it. Since hitting that level, the currency has gained over 12 percent in less than 2 days and looks set to continue rising to reclaim the $4,000 level in the next few days.