The price of bitcoin has returned above $9,000 for the first time since March, having risen by more than a third in value over the last two weeks.
The world’s most valuable cryptocurrency now has a market cap of more than $150 billion, though this is still down considerably from its peak valuation of around $320 billion in late 2017.
Other major cryptocurrencies have been boosted by bitcoin’s recent resurgence, including ethereum, ripple and litecoin.
The most significant gains were experienced by the bitcoin spin-off bitcoin cash, which has almost doubled in value in the last week from $750 to $1,500.
The market-wide gains follow several months of steadily decreasing prices, which some analysts believe represent the bitcoin bubble “bursting.”
Bitcoin experienced the worst ever start to a year in 2018, falling in price by more than $10,000 between January and April.
The crash was attributed to a number of factors, including the tightening of cryptocurrecny regulations in markets like South Korea, and a cooling of interest from investors.
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