Bitcoin, the most popular cryptocurrency, has seen its price swing wildly this year, trading over the $35,500 level on Wednesday after hitting an all-time high of just under $65,000 in mid-April.
The chief executives of Wells Fargo, Citigroup and Bank of America said at a congressional hearing in late May that they are approaching the cryptocurrency landscape with caution.
"Price volatility stemming from speculative demand remains an important obstacle to the wide acceptance of cryptoassets as a means of payment," it said.
Bitcoin, the biggest and most popular cryptocurrency rose nearly 14% on Thursday to $42,000, after plunging 14% a day earlier to its lowest since late January.