Cryptocurrency traders were probably feeling hopeful on Monday as the price of Bitcoin rallied.
Bitcoin gained US$680 per coin, up 8.43%, changing hands at US$8,750 which gives the entire circulation a market value of US$148bn.
At the same time, the Ethereum price gained US$49 or 6% to trade at US$865 which meant its market cap was US$84.4bn. The Ripple XRP token, meanwhile, was up 3.7% changing hands at US$1.09.
Amid the apparent rally, speculators are claiming that the cryptocurrencies are now in recovery mode following a New Year trading period that saw the value of Bitcoin fall around 60% to the earlier mid-December highs.
