Bitcoin Recovers from Lowest Level in a Month

Cryptocurrencies rebounded on Wednesday, recovering from a recent sell-off wave, as Bitcoin restored its level above $30,000.

The world’s largest cryptocurrency in terms of market capitalization rose as high as $32,765 earlier today, on the back of improved risk sentiment among investors.

Bitcoin is up by about 6.5% trading at $31,718.93.

Similarly, Ethereum surged by 8.8% to $1,953.29, while Dogecoin increased by about 10% to $0.1898 among the highest gainers.

Ethereum is gaining support from recent remarks by Elon Musk, in support of the cryptocurrency, as he revealed that he is investing in Ether, as well as Bitcoin and Dogecoin.

Yesterday, crypto assets came under huge selling pressures that brought Bitcoin to its lowest level since June 22.