After briefly reaching below $29,000 on Tuesday, bitcoin is now back above $34,000 and appears to be trending upwards.
Ethereum (ether), Cardano (ada), dogecoin and other leading cryptocurrencies have mirrored this movement, adding $200 billion to the market overnight.
The rebound means crypto analysts remain divided over whether the losses are part of a broader bear market, or simply a price correction midway through a bull run that will take bitcoin to new record highs later this year.
Major investors appear convinced it is the latter, with MicroStrategy ploughing another half a billion dollars into bitcoin earlier this week. The founder of dogecoin also revealed he invested in the cryptocurrency for the first time in eight years.
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