Bitcoin price jumps above $40,000

Bitcoin's price rose above $40,000 for the first time since January 20.

As of press time, bitcoin is trading hands at $40,365 on Coinbase, an increase of about 10% in the past 24 hours.

Friday's price action appears to be building on positive gains reported earlier this week, which followed a period of turbulence in both the crypto market as well as the broader equities market worldwide. 

Bitcoin is down more than 40% from its all-time high of roughly $69,000 in November. 

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