The cryptocurrency traded at a high of $9,293.66 on Tuesday morning, according to CoinDesk data, which tracks the price of bitcoin across a number of exchanges. It was the highest price for bitcoin since March 14.
Bitcoin had its worst first quarter ever this year, falling 48 percent.
Much of the decline has been attributed to people selling bitcoin for fiat currency to pay for taxes. The Internal Revenue Service (IRS) views bitcoin and other cryptocurrencies as property, meaning profits from transactions are subject to capital gains tax.
Another factor that weighed on cryptocurrency prices included increased regulatory scrutiny globally…