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Bitcoin bounce back after hitting its lowest for seven weeks

Cryptocurrency costs were broadly higher on Monday as recent falls across the market attracted bargain-hunting buyers. The worldwide cryptocurrency market was up over 8% over the last 24 hours, according to data provider CoinMarketCap.com.

The market was led higher by bitcoin (BTC-USD), the world's greatest crypto, which was up 7% to $53,527 by late afternoon in London. The bounce-back came after the recent soak price declines last week.

The bounce-back came after the recent soak price decreased last week. Cryptos sold off in what a few analysts called a "healthy" correction to the richness seen within the market since late last year.

There was a small newsflow to drive bitcoin higher, suggesting deal hunting may be behind the cost revival. Bitcoin's droop last week coincided with a broader market sell-off and its revival on Monday helped start a turnaround over the crypto market.

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