Bitcoin is once again on the ascendency, having seen a 17 per cent price rise since Tuesday’s flash crash.

The cryptocurrency was boosted by news from El Salvador that it will be recognised as legal tender in the Central American country, with other countries in the region giving hints that they might follow suit.

The bounce back of bitcoin has had a knock-on effect across the whole crypto space, with Ethereum (ether), dogecoin, Cardano (ada) and other leading cryptocurrencies all seeing gains on Wednesday.

There appears to be positive momentum on Thursday, though the market still appears to be hanging in the balance.

Analysts and experts are divided over whether the latest jump will put bitcoin back on its record-breaking run that it has enjoyed so far in 2021, or whether it is just a blip on the way to more losses.

You can follow all the latest news, analysis and price predictions right here.

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