Bitcoin price climbs back above $47,000

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Bitcoin was trading 6.37% higher on Saturday morning.

The price was almost $47,800 per coin, while rivals Ethereum and Dogecoin were trading at nearly $3,300 (+5.6%) and 21.7 cents (+5.05%) per coin, respectively, according to Coindesk.

Just 24 hours earlier, Bitcoin was above $45,000. The recent surge in cryptocurrency in the U.S. is being attributed to a positive two-hour meeting Thursday between U.S. Federal Reserve Chairman Jerome Powell and members of the House Financial Services Committee. 

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At that meeting, Powell said he does not intend to ban cryptocurrencies, but said stablecoins need greater regulatory oversight.

Bitcoin was trading 6.37% higher on Saturday morning. (Getty Images)

In other cryptocurrency news, hackers took advantage of a vulnerability and bypassed Coinbase’s multi-factor authentication…

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