FOREX WORLD

  Cryptocurrency markets have seen a huge resurgence, causing the price of bitcoin to shoot up by more than 20 per cent in less than 24 hours. The gains follow one of the worst crashes in the digital currency’s history, which saw it lose more than half of its value in a series of panicked sell-offs last week. The crash mirrored the fortunes of traditional markets and came amid global economic turmoil caused by the Covid-19 coronavirus pandemic. Bitcoin’s recovery saw it return above $6,000 on Thursday, having briefly traded as low as $4,000 a few days earlier. Other major cryptocurrencies, including ether, XRP and bitcoin cash, also saw significant price rises as investors returned capital into digital assets. “Bitcoin’s crash was a knock-on effect of the stock market collapse, as panicked investors sold any assets they had for cash, so they could pay off urgent debts to their broker,” cryptocurrency expert and author Glen Goodman told The Independent . The co...

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