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October has finally put on smile on cryptocurrency enthusiasts' faces as the price of digital currencies have bounced back.

In September, the price of digital coins took a major hit when China announced a blanket ban on crypto trading.

Related: Why Crypto Is Under Pressure on Friday

However, on Wednesday, Bitcoin has spiked over $55,000, its highest level since mid-May. The most popular cryptocurrency has reached over $64,000 in April, however it slumped below $30,000 in July.

Related: 4 Things You Don't Know About Bitcoin

Dogecoin, Tesla (TSLA) - Get Tesla Inc Report CEO Elon Musk's favorite cryptocurrency, has also bounced back.

On Tuesday, the news of AMC (AMC) - Get AMC Entertainment Holdings, Inc. Class A Reportaccepting Dogecoin for digital gift cards have helped increase its price.The company's CEO Adam Aron said that digital gift cards could be bought using a BitPay Wallet.

It's currently trading around 25 cents per coin. In May, it crossed 70 cents for the first time, however, it lost its value in June to slump below 16 cents.

Related: What Is Dogecoin?

Dogecoin MillionaireGlauber Contessota took to Twitter (TWTR) - Get Twitter, Inc. Reportto share his excitement.

"Buckle up people, we are all going to the moon!," he tweeted.

Related: Dogecoin's First Millionaire Explains Crypto Slang for Newbies

Link:
Bitcoin And Other Cryptocurrencies Have Bounced Back: Latest News - TheStreet