By: Nick Chong
After a precipitous drop to $7,700 this weekend, Bitcoin (BTC) bulls have managed to reclaim some ground. While the cryptocurrency market hasn’t flipped decidedly bullish yet, Bitcoin has found itself up by 6% in the past 24 hours, moving to $8,500 in a steady trend upward.
Despite not showing the qualities of a fully-fledged bullish reversal, analysts say that this recent bounce is a sign of good things to come. Whether or not this materializes in an imminent move to fresh all-time highs remains to be seen, however.