The cryptocurrency has had a volatile start to the year after gaining 120% in 2016, making it the world's top performing currency for a second straight year. It raced to a gain of more than 20% in the opening days of 2017 before rumblings that China was going to crackdown on trading began to surface.
Bitcoin is fighting back (BTC)
Bitcoin has recouped a good portion of its early losses. The cryptocurrency trades down 2.8%, or almost $26, at $880 a coin as of 11:05 a.m. ET. That's a notable recovery from the drop less than $853 that occurred early in US trade. Bitcoin raced above $915 late Tuesday night but struggle to take out resistance in the $880/$920 area.
Then, nearly a week later, China announced 35% of its value in a handful of days. The price bottomed out after finding support in the $750/$800 area and has managed to fight its way back to the current resistance level.
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