After a slide in price, Bitcoin rises 10 percent, giving hope to the investors

After a slide in price, Bitcoin rises 10 percent, giving hope to the investors
After a slide in price, Bitcoin rises 10 percent, giving hope to the investors

Bitcoin rises 10 percent today, after facing a slide in price last week.

The cryptocurrency, fell nearly 30 percent at one stage on Friday to $11,159.93. It seems that it despite a late recovery, it has been a worst week for Bitcoin since 2013.

The digital currency experienced a climbing from less than $1,000 to as high as $19,666 last week on Bitstamp and to over $20,000 on other exchanges.

The bitcoin investors and analysts believe the decline in its value was a natural correction after a heady run-up in prices. There have been further warnings from market regulators and central banks.

Central Bank of Singapore last week issued a warning against investment in cryptocurrencies, saying it considers the recent surge in their prices to be driven by speculation and that the risk of a sharp fall in prices is high.

All have also witnessed that the prices of rival cryptocurrencies, which slid along with bitcoin last week, have also recovered. Ethereum, the second-biggest cryptocurrency by market size, quoted around $771. This is more with respect to Sunday’s low of $689 but still far from highs around $900 hit last week.