The value of bitcoin is recovering after a tumultuous period for the cryptocurrency.
It hit a new record high when it passed the $19,850 mark on 17 December, but tumbled rapidly soon after, falling to below $12,000 within days. However, it’s on the up again.
It’s worth $15,924 as of Tuesday afternoon UK time, according to the Coinbase exchange.
Gadgets and tech news in pictures
Gadgets and tech news in pictures
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Designed by Pierpaolo Lazzarini from Italian company Jet Capsule. The I.F.O. is fuelled by eight electric engines, which is able to push the flying object to an estimated top speed of about 120mph.
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A humanoid robot gestures during a demo at a stall in the Indian Machine Tools Expo, IMTEX/Tooltech 2017 held in Bangalore
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A humanoid robot gestures during a demo at a stall in the Indian Machine Tools Expo, IMTEX/Tooltech 2017 held in Bangalore
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Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea
Jung Yeon-Je/AFP/Getty Images
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Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea
Jung Yeon-Je/AFP/Getty Images
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The giant human-like robot bears a striking resemblance to the military robots starring in the movie 'Avatar' and is claimed as a world first by its creators from a South Korean robotic company
Jung Yeon-Je/AFP/Getty Images
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Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea
Jung Yeon-Je/AFP/Getty Images
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Waseda University's saxophonist robot WAS-5, developed by professor Atsuo Takanishi
Rex
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Waseda University's saxophonist robot WAS-5, developed by professor Atsuo Takanishi and Kaptain Rock playing one string light saber guitar perform jam session
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A test line of a new energy suspension railway resembling the giant panda is seen in Chengdu, Sichuan Province, China
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A test line of a new energy suspension railway, resembling a giant panda, is seen in Chengdu, Sichuan Province, China
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A concept car by Trumpchi from GAC Group is shown at the International Automobile Exhibition in Guangzhou, China
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A Mirai fuel cell vehicle by Toyota is displayed at the International Automobile Exhibition in Guangzhou, China
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A visitor tries a Nissan VR experience at the International Automobile Exhibition in Guangzhou, China
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A man looks at an exhibit entitled 'Mimus' a giant industrial robot which has been reprogrammed to interact with humans during a photocall at the new Design Museum in South Kensington, London
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A new Israeli Da-Vinci unmanned aerial vehicle manufactured by Elbit Systems is displayed during the 4th International conference on Home Land Security and Cyber in the Israeli coastal city of Tel Aviv
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Electrification Guru Dr. Wolfgang Ziebart talks about the electric Jaguar I-PACE concept SUV before it was unveiled before the Los Angeles Auto Show in Los Angeles, California, U.S
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The Jaguar I-PACE Concept car is the start of a new era for Jaguar. This is a production preview of the Jaguar I-PACE, which will be revealed next year and on the road in 2018
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Japan's On-Art Corp's CEO Kazuya Kanemaru poses with his company's eight metre tall dinosaur-shaped mechanical suit robot 'TRX03' and other robots during a demonstration in Tokyo, Japan
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Japan's On-Art Corp's eight metre tall dinosaur-shaped mechanical suit robot 'TRX03'
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Japan's On-Art Corp's eight metre tall dinosaur-shaped mechanical suit robot 'TRX03' performs during its unveiling in Tokyo, Japan
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Singulato Motors co-founder and CEO Shen Haiyin poses in his company's concept car Tigercar P0 at a workshop in Beijing, China
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The interior of Singulato Motors' concept car Tigercar P0 at a workshop in Beijing, China
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Singulato Motors' concept car Tigercar P0
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A picture shows Singulato Motors' concept car Tigercar P0 at a workshop in Beijing, China
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Connected company president Shigeki Tomoyama addresses a press briefing as he elaborates on Toyota's "connected strategy" in Tokyo. The Connected company is a part of seven Toyota in-house companies that was created in April 2016
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A Toyota Motors employee demonstrates a smartphone app with the company's pocket plug-in hybrid (PHV) service on the cockpit of the latest Prius hybrid vehicle during Toyota's "connected strategy" press briefing in Tokyo
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An exhibitor charges the battery cells of AnyWalker, an ultra-mobile chasis robot which is able to move in any kind of environment during Singapore International Robo Expo
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A robot with a touch-screen information apps stroll down the pavillon at the Singapore International Robo Expo
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An exhibitor demonstrates the AnyWalker, an ultra-mobile chasis robot which is able to move in any kind of environment during Singapore International Robo Expo
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Robotic fishes swim in a water glass tank displayed at the Korea pavillon during Singapore International Robo Expo
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An employee shows a Samsung Electronics' Gear S3 Classic during Korea Electronics Show 2016 in Seoul, South Korea
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Visitors experience Samsung Electronics' Gear VR during the Korea Electronics Grand Fair at an exhibition hall in Seoul, South Korea
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Amy Rimmer, Research Engineer at Jaguar Land Rover, demonstrates the car manufacturer's Advanced Highway Assist in a Range Rover, which drives the vehicle, overtakes and can detect vehicles in the blind spot, during the first demonstrations of the UK Autodrive Project at HORIBA MIRA Proving Ground in Nuneaton, Warwickshire
PA wire
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Chris Burbridge, Autonomous Driving Software Engineer for Tata Motors European Technical Centre, demonstrates the car manufacturer's GLOSA V2X functionality, which is connected to the traffic lights and shares information with the driver, during the first demonstrations of the UK Autodrive Project at HORIBA MIRA Proving Ground in Nuneaton, Warwickshire
PA wire
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Ford EEBL Emergency Electronic Brake Lights is demonstrated during the first demonstrations of the UK Autodrive Project at HORIBA MIRA Proving Ground in Nuneaton, Warwickshire
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Full-scale model of 'Kibo' on display at the Space Dome exhibition hall of the Japan Aerospace Exploration Agency (JAXA) Tsukuba Space Center, in Tsukuba, north-east of Tokyo, Japan
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Miniatures on display at the Space Dome exhibition hall of the Japan Aerospace Exploration Agency (JAXA) Tsukuba Space Center, in Tsukuba, north-east of Tokyo, Japan. In its facilities, JAXA develop satellites and analyse their observation data, train astronauts for utilization in the Japanese Experiment Module 'Kibo' of the International Space Station (ISS) and develop launch vehicles
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The robot developed by Seed Solutions sings and dances to the music during the Japan Robot Week 2016 at Tokyo Big Sight. At this biennial event, the participating companies exhibit their latest service robotic technologies and components
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The robot developed by Seed Solutions sings and dances to music during the Japan Robot Week 2016 at Tokyo Big Sight
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Government and industry are working together on a robot-like autopilot system that could eliminate the need for a second human pilot in the cockpit
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Aurora Flight Sciences' technicians work on an Aircrew Labor In-Cockpit Automantion System (ALIAS) device in the firm's Centaur aircraft at Manassas Airport in Manassas, Va.
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Stefan Schwart and Udo Klingenberg preparing a self-built flight simulator to land at Hong Kong airport, from Rostock, Germany
EPA
Its value is up more than 65 per cent over last month and more than 1,650 per cent over the last year, but recent goings-on have demonstrated just how quickly the situation can change.
The cryptocurrency’s value fell dramatically last week, dropping by almost $2,000 in just an hour at one point. It has been fluctuating unpredictably ever since, and almost slipped below the $11,000 mark on Friday.
Bitcoin is notoriously volatile, and its value is expected to continue to shift wildly.
Those fluctuations have caused problems with actually using bitcoin, with Steam recently announcing that it won’t be able to take it any more and multiple exchanges saying the huge amounts of trading is leading to problems with actually transferring them.
Naturally, its spectacular rise has coincided with increasing amounts of interest, with more and more people now looking to invest.
It also appears to have boosted alternative cryptocurrencies, such as ethereum and litecoin, which have both seen huge gains in recent weeks.
However, there are serious fears that bitcoin has created a bubble that could burst at any moment.
Numerous financial experts are advising potential investors to avoid getting involved with bitcoin, though others are speculating that it could keep rising towards the $1m mark.
Bitcoin only exists online, has no central bank and isn’t linked to or regulated by any state.
An anonymised record of every bitcoin transaction is stored on a huge public ledger known as a blockchain.
However, transactions made with the cryptocurrency are irreversible, which makes investors in bitcoin attractive targets for cybercriminals.
This article is being regularly updated to reflect bitcoin’s latest value.
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