After a Sharp Sell-off, Bitcoin is Fighting Back

Cryptocurrencies resisted today, Monday, and were able to offset some of the losses they suffered after a wave of selling at the weekend sparked by more indications that China is taking further scaling measures for the emerging sector.

Bitcoin rose to $ 37,391, after falling 7.5% in the previous session. It rose in recent transactions by about five percent.

Ethereum, the second-largest cryptocurrency, jumped more than ten percent to $ 2,321, wiping out 8.6% losses it incurred on Sunday that pushed it near its lowest level in two months at around $ 1730.

And those in charge of mining operations to extract cryptocurrencies were the main driver of the strong declines, as they stopped operations in China due to increased scrutiny of their activities by the authorities there. And those involved in these operations obtain cryptocurrencies by using powerful computers to solve complex mathematical operations.