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Bitcoin values are slowly starting to rise after cryptocurrency hit the lowest point of the year last week.
The virtual currency dropped to around $ 3,280 (£ 2,580) on Friday night, before rising to around $ 3,550 (£ 2,790) per currency at today's 9:00 GMT, according to the CoinMarketCap ranking website.
The recent sales of the cryptocurrency – and the "epic dip" in its value, as CNN says – were partly attributed to a warning from the US Securities and Exchange Commissioner (SEC), Hester Peirce, who is struggling to convince others members of the agency approve more funds exchanged with bitcoins.
The news of a "fork" – in which a digital currency divides to form a new cryptocurrency – in the bitcoin network last month also contributed to huge price declines, which saw the virtual token sink by more than 80%. % from its $ 20,000 (£ 15,720) recorded last December, notes Forbes.
However, the downward trend may be on the verge of extinction, according to the NewsBTC cryptocurrency news site, which states that the market may slowly recover if values can exceed $ 3,700 (£ 2,900).
Some bitcoin experts have remained optimistic about the future of virtual currency.
Last week Danny Scott, co-founder of the British bitcoin with CoinCorner exchange, told the Daily Express: "if we look back at the short ten-year history of Bitcoin, it has recorded many price fluctuations – something that can be expected since the # 39; industry is still very young.
"It is known that Bitcoin would be" dead "more than 300 times until today."
