Investing.com - Bitcoin edged higher in subdued trade on Tuesday, as prices of the virtual currency continued to rebound following a recent slump sparked by the bankruptcy of Tokyo-based Bitcoin exchange Mt. Gox.
BTC/USD held in a range between $609.00 and $635.00 on Slovenia-based BitStamp. Prices last traded at $629.00 during U.S. morning hours, up 2%, or $12.15.
The price of a Bitcoin on Bulgaria-based BTC-e picked up 2.1%, or $12.90, to trade at $626.50.
According to the CoinDesk Bitcoin Price Index, which averages prices from the major exchanges, prices of the crypto-currency added 0.3% to trade at $627.60.
Bitcoin prices have been well-supported since the unexpected collapse of Mt. Gox, once the world's biggest Bitcoin exchange.
Tokyo-based Mt. Gox filed for Chapter 15 bankruptcy protection in Dallas on March 8, supplementing a similar petition made in Japan late last month.
Mt. Gox was forced to shut down after saying it lost approximately 850,000 Bitcoin worth nearly $500 million after hackers gained access to its systems.
Prices of the crypto currency are up nearly 36% on Bitstamp since hitting a low of $400.00 on February 25, while prices on BTC-e have gained nearly 32% since hitting a low of $430.10 also on February 25.
Bitcoin is digital cash for the internet and it is not backed by a government or central bank to regulate or issue it. It can be used to purchase goods and services from stores and online retailers.