Bitcoin surged Thursday, recovering from a sharp sell-off to briefly top $12,000.
The volatile digital currency hit a high of $12,045.09, up 30.9 percent from a low of $9,199.59 a day ago on CoinDesk. CoinDesk’s Bitcoin price index tracks prices from Bitstamp, Coinbase, itBit and Bitfinex. Bitcoin traded about 27 percent above that low at $11,736 midday Thursday.
“Large dips of 25 percent or greater are a feature of the global, super liquid, near-instant cryptocurrency trading environment,” Nolan Bauerle, director of research at CoinDesk, said in an email.