Bitcoin price bounces after crypto crash shocks market

The prices of bitcoin, ether and other cryptocurrencies found some respite Thursday, following a frenzied selloff that delivered a sharp blow to investors swept up in a euphoric rally since late last year.

Bitcoin recovered 2% to $39,196 on Thursday. It had dropped more than 11% by 5 p.m. ET on Wednesday, after earlier plunging almost 30%. Dogecoin, the cryptocurrency that began as a joke, rose 1.8% after dropping 27% the previous day, while ether was up 1.9% after falling 26%.

This week’s crypto crash has helped erase almost 40% from bitcoin’s price from a peak of almost $65,000 in mid April. Some are worried that the worst is far from over.