Bitcoin saw an increase of 8% on Monday and was on track for five consecutive days of losses, although it dropped to almost a fifth of its all-time hit in the beginning of this month.
After hitting the lowest Bitcoin since Sunday, it was last up 6.7 percent to $5,452. Other big ethereum and XRP coins, which appear to travel with bitcoin, rose by around 5% and 11% respectively.
The concern of US President Joe Biden to increase capital gain taxes was dramatically reduced on Friday, with the investment in digital assets cut, although some of his losses were later recovered.
By its April 14 high of nearly $65,000, Bitcoin lost about 19 percent. Nonetheless, this year’s cryptocurrency has increased more than 80%, driven by increasing adoption by major investors and businesses such as Tesla Inc.
