Bitcoin rebounds for second time to close at $32,267.63

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Popular and largest cryptocurrency, Bitcoin, continued its rebound for the second consecutive day to close at $32,267.63 as of Thursday rising by 0.70%.

The cryptocurrency maintained the stride as traders mulled the largest cryptocurrency’s next move following a rebound stoked by comments from Elon Musk, Jack Dorsey and Cathie Wood.

Other cryptocurrencies such as Ethereum and Dogecoin, held onto gains, as did the Bloomberg Galaxy Crypto Index.

Some $1.3 trillion has been wiped off the market value of cryptocurrencies since mid-May.

Bitcoin has faced a range of obstacles, including stepped-up regulatory scrutiny in China, Europe and the U.S. and concerns about the energy needed by the computers underpinning it.

Investors have also generally become more cautious about speculative assets.

Meanwhile, the second-largest cryptocurrency by market capitalization, Ethereum, was up by 2.16%, to close at $2,024.34.

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