Bitcoin has jumped over the US$10,000 ($13,520) threshold for the first time in over two weeks as it continues its resurgence following a horror fortnight.
The cryptocurrency climbed 8 per cent to just above US$10,200 in early morning trading, according to Coinbase.
Since last Wednesday Bitcoin has recovered by more than US$4,000 after it dipped below US$6,000 on February 6, according to CNBC.
According to Coindesk, Bitcoin last traded over US$10,000 on February 1.
AdvertisementAdvertise with NZME.
After facing weeks of mounting negative headlines that had wiped out billions in value, cryptocurrencies won a reprieve of sorts as top U.S. regulators testifying before a Senate committee called for greater oversight without proposing industry-killing measures.
That news gave enough positive momentum for traders to shrug off a cryptocurrency ban from Thailand's central bank.
A number of other major cryptocurrencies, including ethereum, ripple, bitcoin cash and litecoin also rose higher today.
Bitcoin does, however, remain well below its peak of US$19,400, reached on 11 December.