Popular cryptocurrency, Bitcoin, rose by 4.04% to trade at $50,953.40 in the early hours of Monday after dipping slightly.
Cryptocurrencies were mostly lower on Monday, although market conditions have stabilized following the weekend sell-offs.
Bitcoin was trading above its 200-day moving average (currently at $46,386), which suggests selling pressure could wane over the short term.
Bitcoin on Monday went back under the $1 trillion market capitalization level with the combined crypto market falling toward the $2 trillion mark.
Meanwhile, Ethereum, the world’s second largest cryptocurrency by market capitalization went up by 4.26% to trade at $4,343.93.
