bitcoin hit a daily low, dropping to $43,292 per coin before starting to appreciate. By 11:00 a.m. Moscow time, it was up 3.5 percent to $44,806. At 1:30 p.m. Moscow, it began another surge, up 6 percent from $44,917 to $47,602. At its peak, the rise was 11.3 percent. As of 2:35 p.m. Moscow time, bitcoin was trading at $47,344 apiece.
The rapid rise in bitcoin quotes came a week and a half after a major collapse. On September 24, the cryptocurrency rate collapsed by 9.3 percent, to $40,908 due to the decision of the Central Bank of China to ban all transactions related to the cryptocurrency.
The People's Bank of China (PBOC) said that cryptocurrencies should not be in circulation with traditional currencies and vowed to firmly crack down on virtual currency speculation to protect people's property and maintain financial order. A few days later, China blocked popular web services for tracking information about cryptocurrencies.
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