Overnight selling pushed bitcoin down by more than 6% to a low of
$776.95, but buying on Friday has wiped away those losses. The
cryptocurrency was up 2.06%, or $16.60, at $817.34 a coin as of
12:36 p.m. ET.
The early selling still did not pass Thursday’s low of $752.46, a
sign that bitcoin could be putting in a near-term bottom. The
cryptocurrency has had a wild start to the year, climbing by more
than 20% in the first four trading days, reaching a 2017 high of
$1,161.88 a coin, before tumbling by more than 35% as China began
investigating bitcoin exchanges in Beijing and Shanghai on
suspicion of market manipulation, money laundering, unauthorized
financing, and other issues.