Just as Bitcoin’s price movement begins to entice investors after three weeks of lull, experts believe more is yet to come. From a low of $30,329 in 24 hours, BTC’s price is now trading at $31,949, the highest recorded since May 11. The positive momentum resulted in debate around whether Bitcoin bottomed out already or not.
Bitcoin’s Biggest Daily Gain
The price momentum also reflects one of the strongest daily spikes witnessed in the recent past. Monday’s price increase of 7.7% in 24 hours is the highest recorded in nearly three months. Bitcoin recorded its biggest daily gain on Monday, which was the highest since March 9, according to CoinMarketCap.
Opening the day at $29,443 and closing at $31,949, Bitcoin’s price movement was an encouraging sign for investors. Interestingly, the price jump took Bitcoin’s market cap above $600 billion for the first time on Monday in over three weeks.
The Bitcoin market cap dropped to below the $600 billion mark on May 8, when the market
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