Bitcoin up over 3% on Thursday morning and closing in on $10,000.
Other cryptocurrencies are also up on Thursday morning, as the crypto sector recovers from a slump in early February.
LONDON — Bitcoin is climbing on Thursday morning and closing in on $10,000 per coin for the first time in just over two weeks.
Bitcoin is up 3.6% against the dollar to $9,825.91 at 7.55 a.m. GMT (2.55 a.m. ET). As the chart at the top shows, bitcoin slumped at the start of February but has been picking up again over the last week or so. It still remains far off its all-time highs of over $19,000 reached just before Christmas.
It's hard to pin an exact reason on bitcoin's recent form. The price dip and then recovery has matched rather tightly the recent drama in the US stock markets, but this may be simply a correlation rather than a causal link.
The London Block Exchange, a startup building a UK-based crypto exchange, writes in its Thursday market update: "Tomorrow is the first day of the Lunar New Year and some families are replacing their red envelopes of cash for bitcoin gifts.
"In each of the past three years, the crypto markets have experienced corrections three weeks before this important day."
Meanwhile, bitcoin continues to be a topic of discussion for many in the financial world. Charlie Munger, the 94-year-old vice chairman of Warren Buffett's Berkshire Hathaway, called bitcoin "noxious poison" on Wednesday, while Llew Claasen, the executive director of the Bitcoin Foundation, forecast that the cryptocurrency will go to $40,000.
Here's how the other top 10 cryptocurrencies by trading volume are doing this morning:You can see live cryptocurrency prices here.SEE ALSO: MUNGER ON BITCOIN: 'The more popular it got, the more I hated it'
DON'T MISS: A divorcing couple is fighting over a 600,000 cryptocurrency haul
NEXT UP: Even crypto bulls expect a big shake out this year: 'The market right now is just everyone wants a Lamborghini'
Join the conversation about this story » NOW WATCH: CEO of blockchain company Chain on what everyone gets wrong about the technology
Ellen DeGeneres featured a segment on the world's most popular cryptocurrency, bitcoin. Could 2018 be the mainstreaming of cryptocurrency?
Business Insider - Tech: Saturday February 17, 2018
How much more room does the crypto bandwagon have?
Atari announces it's working on a pair of altcoins. One for gaming, one for gambling, and both marking a surprising entry for the venerable gaming company.
On February 16, 2018, the Swiss Financial Market Supervisory Authority FINMA put the world on notice by being the first major economy to set out clear ...
What would the landscape look like today if Marriott had discovered AirBnB? Its always striking to see disruptions being made in industries where the most well-established brand should have been at the forefront of innovation, but wasnt...
A group of women comforted a mother and her child after they became upset at Los Angeles International Airport.
ICO Radio: ICO Podcast with ICO News Desk
ICO Toolkit: We are creating an extensive toolkit for anyone involved with running or supporting ICO's.
Please contact us if you have any questions, comments or suggestions