Bitcoin heads toward US$40,000 as cryptos bounce back

Still popular: Virtual currencies, including bitcoin, have swung wildly in recent days. — Reuters

NEW YORK: Bitcoin rallied toward the US$40,000 (RM164,000) level as cryptocurrencies recover some of the ground lost in this month’s volatile rout.

The largest digital token climbed as much as 5.2% to US$39,588 (RM162,310), while the Bloomberg Galaxy Crypto Index advanced 8% as rivals like ether also gained. The gauge had one of its worst stretches ever last week.