Bitcoin extends its recovery, set to extend gains to $11,000

Bitcoin

Bitcoin continues to recovers from its previous massive losses and is now perceived to extend its gains to $11,000 or higher. According to data, the cryptocurrency held firm and defended its stance of $9,300 over the weekend and settled to a high of $10,443 on Monday, which was 28% higher from Bitcoin’s previous settlement.

In accordance to this, CoinMarketCap indicated on Tuesday that the Bitcoin has recovered by over 14% from its low witnessed over the weekend and gained nearly 12% on Monday.

On Tuesday, the cryptocurrency persistently continued its hawkish rally and settled at $10,707 after hitting a robust $10,714.47 on early trade. In accordance to this, trading volume in BTC/USDT on OKEx has indicated a rise of over 6.90%, while the U.S. dollar trading volume in Bitfinex has climbed by over 6.61%.

Analysts and investors are anticipating the cryptocurrency to prolong its gains as data indicating Bitcoin’s pace indicated a confident outlook and is set to increase the cryptocurrency’s gains to the ten-week moving average of $11,385 in the next 24 hours.

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