Kuala Lumpur: Five days ago, Bitcoin was dropping back below $30,000. It was heading toward new lows for the year.
But today it is up and investors in cryptocurrencies are hoping it will not go down again.
Market Watch says bitcoin’s rally over the weekend means it is trading above its 50-day moving average for the first time since early May.
Other sources say cryptocurrencies continued the jump on Monday, sending bitcoin as much as 12.5% higher to its strongest since mid-June.
Bitcoin was last up 7.3% at $37,983.
Rival cryptocurrency Ethereum rose to $2,389 at the time of writing.
