The Bitcoin’s price charged toward $10,000 this week as the bulls began to regain their footing following last week’s decline.

Bitcoin started the week on a high note, rising 9% to approximately $9,800 on cryptocurrency exchanges.

On March 6th the price of Bitcoin was over $11.000 but this reversed some of the damage from last week’s correction, it took just 3 days to reach the support line at $8,342.

Bitcoin market cap is $156.7 billion, this means that it has a 41.8% share of total cryptocurrency market cap.

Bitcoin is starting to Recover from Mt. Gox Panic

US regulators took several actions regarding initial coin offerings (ICOs). The Securities and Exchange Commission (SEC) advised cryptocurrency exchanges that it is “unlawful” for them to list ICO tokens the SEC deems to be securities. Meanwhile the Treasury Department letter advised that ICO operators have to accomplish with bank-grade reporting requirements and anti-money laundering regulations.

Additionally, news broke that the Mt. Gox trustee had liquidated more than $400 million worth of Bitcoin and Bitcoin Cash on cryptocurrency exchanges over the previous several months.

Still, it appears that traders oversold their developments, as the Bitcoin price has once again proved strong in the face of adversity.