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Bitcoin rebounds from 16-month low; cryptocurrency Luna plunges to $0

By Shubhangi Mathur - May 13, 2022, 09:18 PM ET
Last Updated - Feb 27, 2024, 03:12 PM EST
Bitcoin
The world’s largest cryptocurrency Bitcoin rose 4.85% to $29,925 on Friday, recovering from its lowest value since December 2020

The world’s largest cryptocurrency Bitcoin rose 4.85% to $29,925 on Friday

Major cryptocurrencies rebounded on Friday after a weeklong decline due to crypto selloff and crash of a major stablecoin.

The world’s largest cryptocurrency Bitcoin rose 4.85% to $29,925 on Friday, recovering from its lowest value since December 2020.

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Ether, the second largest cryptocurrency in terms of market cap, rose 6.48% to $2,051.

Due to worries regarding high inflation and rising rates, the crypto market is in turmoil and face high selloff.

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