Bitcoin bounces back from Tuesday's lows of USD 6,000

After hitting lows of less than USD 6,000 on Tuesday on some exchanges, Bitcoin staged a bounce back today and was trading at around USD 7,274 on Wednesday morning on coinmarketcap.com.

At current levels, the world's most famous cryptocurrency has lost more than USD 11,000 after it had hit dizzying heights of more than USD 19,000 in December. The digital currency has failed to hold the levels



of USD 17,000 which it was trading at a month ago.

Bitcoin witnessed a stellar rise in value in 2017 after it rose 20 times when it opened at around USD 970 and rose to USD 19,356 mid December. However, the digital currency hit roadblock when experts termed bitcoin mania as one of the biggest bubble ever. Central bankers across the world have in the past denied accepting it as a formal currency.