Bitcoin price on the rise again after falling $1000 for three days by CNBC: Ryan Browne
- Both bitcoin and Ethereum showed signs of recovery Wednesday
- The two largest cryptocurrencies showed bearish signals after a Chinese crackdown on initial coin offerings
- The renewed rise appeared to meet analyst expectation.
Two of the largest cryptocurrencies were seen to make a recovery after dropping significantly over the past few days.
Both bitcoin and ethereum showed bearish signals following a decision by Chinese authorities to ban initial coin offerings (ICOs), which allow firms to raise funds by selling new digital tokens.
Bitcoin is now currently trading at $4,519.98, up 2.21 percent, according to Coindesk's price index; Ethereum, meanwhile, is trading at $326.87, up 4.37 percent.
The former, a highly volatile asset, fell to a low of $4,037 on Tuesday, shaving off $1,066 from its most recent all-time high of $5,103 on Saturday.
For further details, watch this: https://www.cnbc.com/video/2017/09/08/trading-the-five-most-expensive-sp-500-stocks.html
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