Several messages about Bitcoin have caused the prices for cryptocurrencies to fluctuate sharply over the long Pentecost weekend.
While Bitcoin, the most important and oldest cyber currency, fell by a further 13 percent to around 32,600 dollars on Sunday, things have now risen to just under 39,500 dollars.
On Tuesday afternoon it was trading at $ 37,000.
The second most important cyber currency, Ethereum, which lost 17 percent on Sunday, climbed 27 percent on Monday.
An immediate trigger for the price slide on Sunday was not apparent.
On Friday, however, China dealt another blow with the threat of stricter regulation of cryptocurrencies.
It was the first time that the State Council explicitly targeted the crypto sector.
China had also banned financial institutions from offering cryptocurrency-related services.
Many of the new rules expanded previous restrictions and closed loopholes.
On Monday, several companies in the industry announced that they would cease business in the People's Republic.
"Potentially Promising"
On Monday things started to pick up again without any market-moving news. By the evening, Bitcoin had increased by around seven percent to $ 37,600. Then the price soared to just under $ 39,500 after it appeared that Tesla CEO Elon Musk appeared to be toning down his stance on the environmental impact of making the cryptocurrency. "I spoke to North American bitcoin miners," Musk tweeted. “You have undertaken to publish the current and planned use of renewable energies (...). Potentially promising. "
In the past, statements by Musk had repeatedly caused price turbulence. According to its own statements, Tesla has invested billions of dollars in Bitcoin and thus fueled the Bitcoin rally in recent months. In addition, the electric car manufacturer temporarily accepted the digital currency as a means of payment. In mid-May, however, Musk had declared that Tesla would no longer accept Bitcoin due to the high energy consumption during Bitcoin production.