A man looks at ATM machines (L and R) for digital currency Bitcoin in Hong Kong on December 18, 2017.
Anthony Wallace | AFP | Getty Images
A man looks at ATM machines (L and R) for digital currency Bitcoin in Hong Kong on December 18, 2017.
Bitcoin rallied Tuesday, recovering from a sharp selloff late last week.
The digital currency briefly climbed more than 12.5 percent to above $16,100 late Tuesday morning, according to Coinbase, the leading U.S. platform for trading major digital currencies.
With Tuesday's gains, bitcoin has now recovered more than 50 percent from a low of $10,400 hit Friday in an extremely volatile day of trading that had no immediately apparent explanation behind it.