Bitcoin's second trading session of 2018 has seen the controversial cryptocurrency rise by as much as 15%. Ethereum, Ripple and the whole crypto complex appear to be enjoying something of a New Year bounce.
While there appears to be little driving the rally, other than a speculative push higher following the dramatic losses seen in the final days of 2017, cryptomania looks likely to remain a central investment theme in 2018.
Founders Fund purchases
We learned on Tuesday that Founders Fund - the venture capital firm with significant investments in new technologies - bought between $15m-$20m worth of bitcoin last year.
At what price these purchases were made is unknown, but it displays a firm belief from Peter Thiel (left) that he and his partners in Founders Fund aren't overly concerned about a bitcoin bubble.
This belief may have something to do with Wednesday's rally.
It hasn't all been one way, however. The initial rally back up to $15,500 for bitcoin represented a rise of nearly 15%. By mid-morning in London, the rally had faded to $14,930 - up 10.91%.
Elsewhere in the cryto realm, ethereum was up 3.77% to $863.37, while ripple was 10.72% higher at $2.42.