CryptoWatch: Tom Lee sees bitcoin surge by the summer, as cryptocurrency struggles to hold $10,000

Bitcoin found itself in a struggle to remain above $10,000 Friday, temporarily slipping below that mark even as one prominent analyst predicted the No. 1 cryptocurrency was headed for a summer bounce.

Bitcoin BTCUSD, +0.81% was up 1% in recent action at $10,006.54, having traded between an intraday high of $10,293.44 and a low of $9,718.59, according to CoinDesk. The muted price action comes a day after bitcoin pushed back above the psychologically important level of $10,000 for the first time since early February.

Since the start of the year, bitcoin has lost about 26% of its value, with renewed concerns about regulation haunting cryptocurrencies.

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