Bitcoin investors are, finally, getting some relief, Money reported. The cryptocurrency's price climbed this week to around $24,000 — a price investors haven't seen since mid-June. While still a far cry from its high of $68,000 last November, this is a significant rally from even just last week, when bitcoin cost around $19,000 per coin. Could bitcoin's rally mean the cryptocurrency's price has bottomed out and is on the road to recovery? The cryptomarket is not only dealing with changes in the Federal Reserve's economic policy, but also an erosion of trust. In May, cryptocurrency luna and its associated "stablecoin" terra collapsed, wiping out billions of dollars. More recently, cryptolenders like Celsius, Babel and Vauld paused users' withdrawals amid volatile market conditions, and Celsius, Voyager Digital and crypto hedge fund Three Arrows have filed for bankruptcy. With those events still only in the recent rearview mirror — and with cryptoprices being so unpredictable — it's impossible to know where the market is heading. But some believe things are looking up.
