The January roller coaster for cryptocurrency investors eased on Thursday as Bitcoin held onto gains after roaring back from its first plunge below US$10,000 since December.
Bitcoin climbed 6.1 per cent to US$12,069 at 10:48 a.m. in New York, Bloomberg composite pricing showed. It stayed above US$10,000 all day, following a frantic 24 hours in which the token swung through a US$2,600 range. Rivals ethereum and litecoin both rose more than 5 per cent, while Ripple jumped 26 per cent.
“Any big figure like ‘$10,000’ or ‘$20,000’ can be perceived as a psychological level for traders in any market,” said Daire Ferguson, chief executive officer of Irish online currency platform AvaTrade. “But markets are fickle. Trends are always there to be broken, or re-defined.”