Bitcoin (EXANTE: Bitcoin) recovered more than $1,000 on Monday after losing almost a third of its value in less than four days, Reuters reported.
Bitcoin tumbled in the second half of last week, falling as low as $5,555 on the Luxembourg-based Bitstamp exchange on Sunday, a slide of almost 30 percent from a record high just shy of $7,900 on Wednesday.
It rebounded on Monday, trading up more than 14 percent on the day at $6,718.
Bitcoin Cash (EXANTE: Bitcoin.Cash) tripled in value at the end of the week as Bitcoin slid, reaching an all-time high just below $2,000 on Sunda and briefly overtaking Ethereum as the world’s second-biggest cryptocurrency.
“Bitcoin and Bitcoin Cash will co-exist and serve different use cases, just like Bitcoin and Ethereum (ETH/USD). It’s not a zero sum game,” Bitcoin and security expert Andreas Antopolous said.
Bitcoin is up more than 500 percent so far this year.