Bitcoin is up 40% but still way, way down from its high of $19,500 just two years ago.
The price of Bitcoin skyrocketed overnight, rising by nearly 40 percent from a recent low. The sharp turn came as Chinese President Xi Jinping spoke highly of the decentralized technology on which the digital currency is founded, telling members of the Political Bureau of the Central Committee that the country should "seize the opportunity" of blockchain.
