Bitcoin back above US$6,000 to give respite to investors

Up again: A sign is seen outside a business where a bitcoin ATM is located in Toronto, Canada. Saturday’s rise for bitcoin marked a pause from the jarring decline for most of 2018. — Reuters

NEW YORK: The weekend is offering some respite for bitcoin investors.

The bellwether of the cryptocurrency world rose 8% to US$6,338.22 as of 5.30 pm in New York on Saturday, according to Bitstamp prices. The gain, which comes after the digital asset crashed through the US$6,000 threshold last week for the first time since February, means the token has still lost about two-thirds of its value since reaching a record high of nearly US$20,000 in December.