The price of Bitcoin briefly hit $25K for the first time since mid-June.
The world?s largest cryptocurrency by market cap, has sunk by nearly 50% year to date, but has rallied 15% over the past month.
The price spike follows a drop in inflation in the US, which means that households have started to have more disposable income and may have more money to spend on investing in cryptocurrencies.
The asset has been mostly on green for a few days and some experts have predicted that it?s heading towards $30K.
Despite its recent signs of rebound, Bitcoin is still down 64% from its November 2021 all-time high of just over $69K.