Bitcoin was on track for its biggest daily increase in more than seven months on Wednesday after a sharp decline at the start of the week which saw its lowest point since 2017.
The cryptocurrency has risen by more than $ 4000 in the middle of the European trading day, with an increase of 10% to $ 4,148 per pixel. The last time the currency rose dramatically in a single day was in April.
The rally comes after the bitcoin has dropped sharply to fall below $ 4000 on Saturday, before hitting the lowest point since September 2017 on Sunday.
Monday's turbulence came in the midst of a large criptovalute sell off triggered by concerns over the escalation of control and regulatory debate within the coin developer community.
Bitcoin has lost value over the last year, reaching a historical peak of nearly $ 20,000 per currency in December 2017.
Despite the demonstration on Wednesday, some members of the crypto community remained skeptical. "It's been a friendly day", wrote a user on the Reddit online forum.