22.03.201702:58:00UTC+00Bitcoin Recovers Ground Anew after Hitting Record Lows

Bitcoin glided higher as it climbed to 6.5% at $1,110 per coin, regaining momentum on Tuesday following it plummeted over the weekend.

Earlier, there were speculations that the developers behind bitcoin warned to establish a new trading venue for the cryptocurrency, which would be inappropriate with the existing marketplace.

Such reports sent the virtual currency wiping out 20% last weekend and stood around $950, its lowest since January.

After touching record peaks in 2016, bitcoin is experiencing erratic price movements this year. It added 20% in the first week of 2017. It then lost 35% after China's central bank mulled cracking down on trading.

The digital currency, however, managed to soar over 50% despite bad news to and fro.