Bitcoin (BTC) has gained $1200 in 24 hours March 12 as markets shake off the weekend’s slump below $8500.
Data from major exchanges including Bitstamp, Coinbase and Bitfinex put BTC/USD at around four-day highs of $9810.
The uptick, which amounts to a price increase of 15.5% since Saturday, continues Bitcoin’s pattern of behavior traders have seen since February.
Moves upwards and downwards between around $11,800 and $8500 - with one exception of a brief drop to $5900 - have defined BTC/USD in recent weeks.
Analysts had predicted that further sustained upside would be possible only if markets cleared significant resistance around $12,000 and closed above $12,400.