Bitcoin, the world’s largest cryptocurrency, nearly reached $50,000 on Saturday afternoon in a rebound that comes after several small dips over the past few months.

Bitcoin hit $49.344.88 at 6:30 p.m. ET on Satuday. As of Sunday at 5:21 p.m. ET, Bitcoin was trading at $48,417.87. 

Bitcoin has seen its ups and downs recently as new tax rules and legislation have created some hurdles for miners.

Bitcoin hit a record $65,000 in mid-April but dropped down to $30,000 in May and has stayed in the $30,000-$40,000 range ever since. On July 21, Bitcoin was priced at $32,523.91.

At its highest point this weekend it was up 77.4% from the year's low of $27,734 on Jan. 4.

“Investing in crypto assets, or investments and lending linked to them generally involves taking very high risks with investors’ money. If consumers invest in these types of products, they should be prepared to lose all their money,” said the Financial Conduct Authority in January. 

Even with its unpredictability, the use of crypto altogether has risen 881% in the last year, according to Chainalysis.

Trillions of dollars are put into cryptocurrency globally. There is about $2.16 trillion invested into the market.