Bitcoin prices claw back above $8000

Bitcoin rose Wednesday, clambering back above $8,000 just one day after the No. 1 cryptocurrency dipped under $6,000 intraday.

The price of a single bitcoin

BTCUSD, -2.88%

was up by 7% to $8,130 late Wednesday in New York, according to CoinDesk data. It has climbed as high as $8,583 intraday, but remains far below its December peak above $19,000.

CryptoWatch: Check bitcoin and cryptocurrency prices, performance, and market capitalization, in one dashboard

February Bitcoin futures on the Cboe Global Markets

XBTG8, -3.21%

gained $685, or 9%, to settle at $8,265, while those on the CME Group Inc.

BTCG8, +8.68%

added 9.2%, or $695, to end at $8,245.

On Tuesday, the virtual currency fell below $6,000 to levels last seen in mid-November but then rallied as U.S. stocks

SPX, -0.50%

also rebounded.

The recent advance comes even as a Goldman Sachs analysts suggested many cryptocurrencies will fall to zero, echoing what other analysts have said.

Read more: Calls for cryptocurrency regulation collide at Senate hearing

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