In a massive rebound from last week's 20 percent decline, bitcoin surged on Sunday to a record high above $ 11,700.

The digital currency hit an all-time high of $ 11,773.83, up 8 percent on the day, according to CoinDesk. That means 30.5 percent, or nearly $ 2,753, from a low of $ 9,021.85 that occurred since Thursday.

Rapid recovery action is the latest action in the 'wild' movement of bitcoin. Cryptocurrency has crossed the closely watched $ 10,000 mark on Tuesday and reached $ 11,000 on Wednesday, just to drop more than $ 1,000 in hours amid high trading volumes that were initially exchanged for exchange