Bitcoin climbs, finding floor

Hot currency: Sparks glow from broken Bitcoin coins in this illustration picture. Bitcoin cash soared 21 and litecoin gained 12 as cryptocurrency traders regained optimism. — Reuters

MADRID: Bitcoin rebounded along with most of the major cryptocurrencies, halting a four-day tumble that drew worldwide attention to the unregulated US$500bil market that’s frequently called a bubble.

The double-digit bounceback was strongest with second-tier digital coins. Bitcoin cash soared 21% and litecoin gained 12% as cryptocurrency traders regained optimism. They weren’t put off by comments published on Saturday from a central banker in Germany that “the risk of rapid losses” is obscured in cryptocurrencies.