Yes, you can hit a bounced pitch the same way you can hit any other pitch considered a ball. It's the same as hitting a high pitch and has been done numerous times in the MLB.
Also, the official answer can be found in the Baseball Rule Book under Section II: Definition of Terms:
"A BALL is a pitch which does not enter the strike zone in flight and is not struck at by the batter. If the pitch touches the ground and bounces through the strike zone it is a "ball." If such a pitch touches the batter, he shall be awarded first base. If the batter swings at such a pitch after two strikes, the ball cannot be caught. If the batter hits such a pitch, the ensuing action shall be the same as if he hit the ball in flight."
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