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Bitcoin Price Briefly Revisits $40,000 as Bulls Pare Week’s Losses
Bitcoin has rallied nearly 15% in the past 24 hours. Ether hits $1,200.
Bitcoin bulls push price back to $40,000 on Thursday.
Jan 14, 2021 at 3:52 p.m. UTC Updated Jan 14, 2021 at 7:31 p.m. UTC
Bitcoin briefly broke above $40,000 again Thursday morning as the market reversed the bulk of its losses from Monday.
The leading cryptocurrency rose to $40,066.32 before settling back to $39,521.46, up 14.25% in the past 24 hours, per CoinDesk's Bitcoin Price Index (BPI). Over the weekend and into early Monday morning, bitcoin dipped nearly 30% from its peak just below $42,000. The move prompted CNN Business writer Paul La Monica to declare bitcoin in a bear market. With the downturn seemingly over, other cryptocurrencies are following bitcoin, with ether reclaiming $1,200, up 13%. Polkadot has gained 21% and litecoin is up 11% in the past 24 hours, per market data from Messari.
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