Bitcoin has had a great day in the markets seeing its largest daily price increase in two months
The cryptocurrency soared by nearly 8 per cent reaching a price of about $31,500.
The Bitcoin market remained open on Monday despite the Memorial Day holiday in the U.S.
This comes after a tough few months for the digital coin that saw its price drop by nearly $10,000 over the last nine weeks.
Blockchain analysts are predicting that the recent selling pressure may be lifting with the “price action appearing to have bottomed for the time being”.
Other cryptocurrencies have also seen positive trends with Cardano’s ADA gaining about 17 per cent and Ether rising nearly 10 per cent.
