Bitcoin rose above $10,000 (7,108.33 pounds) on Thursday, for the first time in more than two weeks, as the trader sentiment has improved towards the cryptocurrency.
The first digital currency bounced back after having fallen 70 per cent from its all-time peak hit in mid-December, reports Reuters.
It has been buffeted this year by a series of negative headlines centring around increased scrutiny by global regulators.
There has also been the incidence of hacks on exchanges, the latest being the theft of roughly $532.9 million in digital money from Tokyo-based cryptocurrency exchange Coincheck a few weeks ago.
The digital currency was also affected by the risk-off mood that permeated financial markets since the beginning of the year.
Sentiment on risk assets such as stocks and bitcoin has since improved.
“Bitcoin’s increase has coincided with the rally in global stock markets,” said Miles Eakers, chief market analyst, at FX brokerage Centtrip.
He said that a sustained break above $10,000 could open the $12,000 level.
The original cryptocurrency gained more than 1,300 per cent last year, capped by a lifetime peak just shy of $20,000 on Dec. 17.