Bitcoin (TIKER: BTC.EXANTE) rebounded above $9,200 on Tuesday as the cryptocurrency extended post-Tax Day gains. Having gained 4.04% over the past 24 hours, Bitcoin is currently trading near $9 280, according to Insider.pro’s Bitcoin chart.
Tom Lee, the only major Wall Street strategist to issue Bitcoin price targets, earlier predicted Bitcoin to recover after US investors submitted their taxes.
"We believe the 'winter' is ending for Bitcoin, as the crypto to fiat pressures from tax day subside, and as headline risks seem to be fading," Lee said in a note to clients Friday.
The wider cryptocurrency market has also seen a drastic growth, climbing above $420 billion in terms of total capitalization, according to data from CoinMarketCap.
Cryptocurrencies other than Bitcoin, are also trading higher Tuesday. Ethereum (TIKER: ETH/USD.BITFINEX), the second biggest cryptocurrency by market capitalization, is up 7.17%, while Ripple has gained 4.28%.
Bitcoin Cash (TIKER: BCH.EXANTE) has seen a 10.10% growth over the past 24 hours to reach $1 530. The cryptocurrency has jumped 80 percent over the past week after developers announced a hard fork planned for May 15.
By Siranush Ghazanchyan