Bitcoin prices regain ground, rising back above $2,000, after tumbling over the weekend

 
Courtney Goldsmith
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Bitcoin prices tumbled over the weekend (Source: Getty)

Bitcoin prices have edged back above $2,000 after a weekend of losses that pushed the cryptocurrency below the key level.

Bitcoin was trading 7.69 per cent higher at $2,088.07 this morning, according to CoinDesk's aggregate price, after the total value of all publicly traded cryptocurrencies fell more than $10bn over the weekend.

The volatile digital currency tumbled to around $1,860 yesterday compared with a price of around $2,500 the week before.

Key cryptocurrencies like bitcoin and ethereum peaked in mid-June with prices reaching milestones of more than $3,000 and $400, respectively.

Ethereum's ether token also slumped over the weekend. Prices, which fell to a low of around $130 yesterday, are now up 9.89 per cent to $175.81.

Investors have been on edge in recent days due to an upcoming decision on the underlying technology behind bitcoin that is threatening to tear the cryptocurrency in two.

Rival software updates will be rolled out at the end of the month, and by 1 August a so-called fork in the digital currency could occur as its developers, miners and investors potentially take up different technologies.

Bitcoin.org, a collaborative website for information on bitcoin has warned this so-called "chain split" in the technology could result in disappearing or incomplete payments "for an unknown length of time" from 31 July.

Read more: Could bitcoin split in two? The clock is ticking on the critical decisions

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