Crypto Stages Comeback After $800 Billion February Rout

Bitcoin bulls look to move on from hacks, memes, and inflation uncertainty.
Crypto Stages Comeback After $800 Billion February Rout
Representations of cryptocurrency bitcoin and the U.S. dollar in an illustration on Aug. 10, 2022. Dado Ruvic/Reuters
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Cryptocurrency markets are staging a rebound after a month-long decline wiped out more than $800 billion in total market value.

Bitcoin, the premier cryptocurrency controlling about 60 percent of the global market, fell below $84,000 for the first time since November. However, the recent selloff may have reached a bottom, as prices rebounded by nearly 3 percent on Feb. 27. Bitcoin returned above $86,000.

Andrew Moran
Andrew Moran
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Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."