There is a good chance that the cryptocurrency market is finally reviving given that Bitcoin, the top digital asset by market capitalization, has surged by four percent over the last 24 hours. According to CoinStats data, the coin that started it all is trading at $8,243with its market cap inching closer to the $150 blnlevel.

Considering that Bitcoin has already had a few fakeouts, bears might dismiss this recent price uptick as another flash in the pan. However,Alistair Milne, the CIO of the Altana Digital Currency Fund, recently took to Twitter to allege that this time might be different. His graph shows that Bitcoin has managed to break out of another descending triangle, which could mean a trend reversal.

As of now, the bearish sentiment is gradually waning. John Bollinger earlier assumed that Bitcoin had good potential for a head-fake trade. In layman's terms, it's simply a move in the opposite direction, which could also be described as a bear trap if to consider all $6,000 and $2,000 predictions.

Bitcoin has been range-bound for almost a month at the lower-$8,000 level. Such prolonged periodsof volatility usuallymean that BTC is ready for another volatile move.

While top altcoins mostly remain dormant, Bitcoin's controversial forks are on a roll. Bitcoin SV (BSV) is leading the pack with a seven percent price increase while Roger Ver's favorite Bitcoin Cash (BCH) is also up by six percent.

Will the Bitcoin price manage to touch $9,000 by the end of the month? Share your take in the comments!

Originally posted here:

Bitcoin (BTC) Price Breaks Above $8,200 While Bitcoin Cash (BCH) and Bitcoin SV (BSV) Post Even Higher Gains - U.Today