Bitcoin bounces back after tumbling below US$30, 000 threshold

BITCOIN extended gains in Asia trading Wednesday, bouncing back after earlier whipsawing investors with a dip below the $30, 000 level.

The largest cryptocurrency rose as much as 4.5% and was trading at $33, 837 as of 9:38 a.m. in Hong Kong. The coin plunged 12% at one point during U.S. trading hours Tuesday to hit $28, 824, which briefly took it into negative territory for the year. Prior to that, it hadn’t fallen below $30, 000 since January.