Following a significant loss in market value at the beginning of the week, all major cryptocurrencies, including bitcoin, ripple and ethereum saw their market values climb again on Thursday. Following on from record-breaking market highs in the middle of December, bitcoin has seen its value crash by more than 50% over the past week.

Based on the data from CoinDesk shared at 7:38 a.m. ET, Thursday, bitcoin saw its market value shoot up to $11,887.19, after plummeting down to $9,199.59 on Wednesday 17th, meaning that its value had increased by more than 6.7% from its lowest point.

In addition, CoinDesk data also showed that ripple\'s XRP had recovered drastically over the same period. ripple\'s value price has increased by more than 50% and currently sits at $1.60 a coin, after seeing its value dip by more than 90% on Wednesday.

CoinDesk also reported that ethereum\'s market value had risen to $1,074.04 by 5:40 a.m. ET, Thursday, from a low of $780.92 on Wednesday 17th, an increase of 5.8% over a 24 hour period.

The sharp drops in the values of the popular cryptocurrencies have been put down to the latest announcements from South Korea and China that indicate that increasing regulations are to be enforced on the crypto market.