Bitcoin Price Rebounds to Near $2,640 Following Yesterday's Losses

The price of bitcoin has rebounded after a notable fall yesterday that saw the digital currency lose over $400.

May 26, 2017 at 9:29 a.m. UTC
Updated Sep 14, 2021 at 1:57 p.m. UTC

The price of bitcoin has rebounded after a notable fall yesterday that saw the digital currency lose over $400 to a low of around $2,352.

Today's resurgence sees the price back up at $2,626 at the time of reporting, having hit a high of almost $2,640 at 8:57 UTC, CoinDesk Bitcoin Price Index data shows.

Most major cryptocurrencies have been on an upwards trajectory in recent months, with bitcoin hitting new all-time highs in quick succession. On 25th May, bitcoin reached a record value of almost $2,790 prior to the drop yesterday, when some other cryptocurrencies also saw notable losses.

Notably, the total market cap of all cryptocurrencies reached an all-time high just over a week ago, with some experts polled by CoinDesk raising fears of a bubble that could ultimately see sharp corrections. Others though pointed to a growing awareness of cryptocurrencies among traditional investors for the ongoing rises.

High jump image via Shutterstock

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.