The bitcoin bounce: what comes next?

By MATT OTT
AP Business Writer

Markets this year are roiling, uncertainty abounds and the U.S. government has had to step in to rescue two large American banks in recent days. So why is Bitcoin, considered among the riskiest bets of them all, rising so fast? Just a few months after it seemed the entire crypto world was aflame, the original cryptocurrency climbed another 8% on Friday to more than $27,000, its highest level since summer. It’s up more than 60% this year, after dipping to a three-year low following the collapse of crypto trading firm FTX in November. AP explains what happened, and what may be ahead.