Investing.com– Bitcoin price rose higher on Wednesday, recovering further from recent losses as bargain hunters took advantage of recent price declines, although sentiment remained negative in the face of increased supply due to Mt Gox and the German government.
World no.2 token Ether also advanced, extending a recent recovery as markets awaited a key decision from the Securities and Exchange Commission on a spot exchange-traded fund.
rose 1.7% in the past 24 hours to $58,423 by 08:31 ET (12:31 GMT). The crypto asset crossed the $59,000 threshold at one point before paring some gains.
Bitcoin benefits from bargain buying, but selling fears remain
The world’s largest currency benefited chiefly from bargain buying into recent price declines. Bargain hunters were seen stepping into markets since last week, with crypto investment products, such as Bitcoin ETFs, seeing capital inflows on this trend.
But…
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