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Bitcoin and other cryptocurrency exchange rates have been quickly and steadily dropping over the past few months, with no end to the decline in sight. But, after hitting a low of about $3200 over the weekend, a price which hasn't been seen since August 2017, Bitcoin shot up to over $3440 today, and dragged the rest of the cryptocurrency market up with it. According to CoinMarketCap, about 5 billion US dollars in cryptocurrency was spontaneously created in just over 1 hour on Monday. Reuters claims the jump was "ascribed to heavy buying on Japan and Hong Kong-based exchanges."
The original cryptocurrency jumped as much as 11 percent on the Bitstamp platform and was headed for its biggest daily rise since Nov. 28. Bitcoin has fallen around 80 percent from its record high last December. In the last three months it has fallen nearly 50 percent.
The original cryptocurrency jumped as much as 11 percent on the Bitstamp platform and was headed for its biggest daily rise since Nov. 28. Bitcoin has fallen around 80 percent from its record high last December. In the last three months it has fallen nearly 50 percent.