 "cryptocurrency")
The cryptocurrency market made a swift comeback from the turbulence last week triggered by China’s latest crackdown volley, with the likes of Bitcoin and Ether recouping most of their losses on Monday.
Bitcoin rallied to about $44,000 as of 1:35 p.m. in Hong Kong, near the level when the People’s Bank of China on Friday announced its latest step in reining in crypto. Ether broke above last week’s level at $3,100.
“Over the weekend sessions, Bitcoin has shown some resilience and has now recovered the majority of those losses,” said Jeffrey Halley, senior market analyst at Oanda Corp., in a note Monday.
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