For the first time this week on Wednesday, the price of Bitcoin clawed back to above $40,000 with volatility in the cryptocurrency market showing few signs of dampening.

The price of Bitcoin jumped by 6.5% to $40,904. Prices of smaller crypto-currencies, which tend to rise and fall in line with the largest cryptocurrency, also climbed to new heighrs, with Ether rising by 7.5% to over $2,906.

Despite the price appreciation, Bitcoin is down by 30% this month, and has lost more than 37% from its record high of near-$65,000 in April. However, it t has gained more than 40% this year. Last week, the price of Bitcoin slumped to $30,066 hitting its lowest since January.