Bitcoin Shoots Up Again After Weekend Dip

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Cryptocurrency bitcoin continues to fluctuate strongly in value. After a dip last weekend in which the currency lost almost a fifth of its value on Sunday, Monday saw another strong recovery.

Bitcoin traded for nearly $ 38,000 on Monday afternoon, representing a 12 percent increase in value.

The rebound gives currency traders a more positive feeling ahead of one of the biggest crypto conferences of the year. The event, dubbed Consensus by Coindesk, will bring industry leaders together for their vision of all things digital currencies.

In addition to ownership, it also concerns matters such as management and decentralized financing.

The currency has fallen sharply from its record high of $ 64,895 in mid-April amid fears of tighter regulations and concerns about bitcoin’s high energy consumption. The ethereum, the second-largest token, also rebounded Monday, gaining 14 percent in value to around $ 2,300.