Bitcoin Trading was up 2.8% Thursday morning.
The price was around $46,450 per coin, while competitors Ethereum and Dogecoin About $3,500 and 25 cents per coin were traded, respectively, according to Coindesk.
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Bitcoin is still recovering after Tuesday’s low of around $53,000 to $43,119.
El Salvador’s historic adoption of bitcoin as legal tender on Tuesday still has some challenging aspects.
El Salvador’s President Nayib Bukele stepped in on Wednesday to manage a fraught rollout of the payments app that supports the country’s move. He called on users to report any problems on his Twitter account, according to Reuters.
Bukele has asked users to close and restart the app if a “Currently Maintenance” error screen appears.
The adoption of bitcoin as legal tender by the Central American country was an issue that may have contributed to the devaluation of the digital currency.
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A new cryptocurrency research team at Standard Chartered predicts that bitcoin will be worth $100,000 by early next year and could be worth $175,000 in the long term.
Bukele has sent out a stream of Twitter messages over the past 36 hours instructing users on how to download the government-backed Chivo app that promises commission-free transactions.
In other crypto news, two of Australia’s largest lenders on Thursday dismissed criticism that they are hindering competition by refusing to do business with cryptocurrency providers, according to Reuters.
These lenders are National Australia Bank (NAB) and Westpac.
Despite the growth of cryptocurrencies in the past year, many financial institutions did not participate due to the high risk.
The exchange did not allow ASX Ltd. Lists related to cryptocurrency.
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“It’s one of the emerging issues we’re looking at — what, if anything, our relationship with cryptocurrency should be,” NAB CEO Ross McEwan said at a regular parliamentary hearing.
Westpac CEO Peter King said that anonymity for cryptocurrencies made it “extremely difficult” to meet the bank’s anti-money laundering and terrorist financing requirements.
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