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Bitcoin investors hoping for a recovery in 2019 are lucky because the value of cryptocurrency has risen above the value of $ 4,000 ($ 3,140).
The digital currency has undergone a series of major sell-offs in 2018, with prices falling from a high of $ 20,000 (£ 15,700) per currency in December 2017 to just over $ 3,700 (£ 2,900) a year later, according to site data of the CoinMarketCap ranking.
While bitcoin values remained stable in the first week of January, prices rose by around 6% to $ 4,070 (£ 3,200) in the mid-afternoon Sunday afternoon, the site reveals. At 9 am on Monday, UK time, prices were $ 4.080.
It is believed that a "bitcoin whale", a term given to investors with a significant share of the cryptocurrency, could be behind the surge in prices on Sunday, Forbes reports.
The anonymous investor transferred the bitcoin value of 10 million pounds (7.85 million pounds) to the Bitstamp of Luxembourg cryptocurrency, beating the volume of virtual currency exchanges over 5 billion pounds (3.92 billion pounds), says the news site.
Speaking with Forbes, Mati Greenspan, senior market analyst at the eToro cryptocurrency exchange, said the price spike is "not quite unusual for bitcoin" and could be the hallmark of "one big order on an exchange or even for lack of liquidity in the market.
"The interesting thing about this move is that it took us above the $ 4000 level and so far it's holding on to gains," he added.
The rival cryptocurrencies also saw increases in values from the start of 2019, indicating that they are entering a "bullish zone" and signaling that further gains may be in the horizon, says the virtual currency site NewsBTC.
