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Bitcoin climbs back above $57,000 as cryptocurrencies rebound from sell-off
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cnbc.comIn this article
Bitcoin and other cryptocurrencies surged Monday after a sharp sell-off at the end of last week.
The price of bitcoin climbed nearly 6% in the last 24 hours to $57,373, according to Coin Metrics data. Other digital assets also rose, with ether climbing 7% to $4,331 and XRP up 6% at around 98 cents.
Vijay Ayyar, head of Asia Pacific at cryptocurrency exchange Luno, said early reports that the new, heavily-mutated omicron Covid variant came with milder symptoms was giving the market a boost.
«We're seeing news of the variant being potentially weaker in terms of symptoms in early analysis, which has bolstered the market comeback,» Ayyar said via email. «Hence, smart investors have probably bought this dip.»
Bitcoin last week
Read more on cnbc.comAbout this in other media
Bitcoin back over $50,000 as market calms after weekend turmoil economictimes.indiatimes.com /3 years ago
Bitcoin Back Over $50,000, As Market Calms After Weekend Turmoil ndtv.com /3 years ago
Bitcoin tumbles 5% after a weekend cryptocurrency crash brought on by investors' Omicron fears euronews.com /3 years ago
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