Bitcoin jumped almost $2,000 from its intraday low Tuesday, making up some of the losses it sustained from 2018’s January correction.
As of press time, bitcoin was trading around $7,900, after hitting a low of $5,947 a little over 12 hours ago. The world’s largest cryptocurrency by market cap opened at just under $7,000 on the day but hit a daily high of $7,763, according to CoinDesk’s Bitcoin Price Index (BPI). The coin first fell past that level Monday on its way to $6,000.
Overall, bitcoin has yet to make up a significant portion of the more than $10,000 it lost since reaching its all-time high of more than $19,000 in December, or even the $17,000 it fell from in mid-January. However, Bitcoin’s increase reflects the overall cryptocurrency market cap, which jumped nearly $100 billion in 10 hours. In addition, each of the top 100 coins on CoinMarketCap was in the green Tuesday, after seeing declines for nearly a month.