Cryptos: Bitcoin regains its footing after recent selloff

Bitcoin and major cryptocurrency prices traded higher on Wednesday, rebounding after recent stumbles.

Bitcoin, BTCUSD, -0.05% the world’s largest digital currency as it accounts for 52% of the total value of all coins, was last changing hands at $3,797.60, up 0.3% since Tuesday at 5 p.m. Eastern time on the Kraken exchange.

Read:Stocks poised to fall a second session as global drama unsettles investors

What are analysts saying

“The rapid growth to $4,200 for bitcoin launched active profit taking, taking away immediately $400. Thus, no matter how crypto-optimists would like to believe in reaching the bottom, we are still faced with the usual speculations [of a new low],” wrote Alex Kuptsikevich, markets analyst at FX Pro.

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