Bitcoin price on Monday rose above $42,000 for the first time in three weeks.
In January, the digital currency fell as low as $33,000 from an all-time high of $68,990 recorded in November 2021.
According to CoinMarketCap cap, Bitcoin rose 3 percent to $42,708 as most cryptocurrencies trade on the green line.
The Bitcoin cryptocurrency began its rapid rise from $37,500 on February 3 and has since remained significantly more positive.
Over the weekend, Ethereum, the second-largest crypto, maintained its gains above $3,000 in two weeks.
Similarly, most major altcoins are rising steadily. Dogecoin (DOGE) climbed 6 percent to $0.156532, while Shiba Inu (SHIB) rallied 21 percent, representing $0.000027. The crypto market cap has increased by $60 billion to $1.950 trillion in a few days.
Analysts predict that Bitcoin may steal the show this week, pumping aggressively while other digital currencies rally alongside.
The Central Bank of Nigeria (CBN) has warned Nigerians against trading in virtual currencies, including bitcoin, ripples, litecoin.
The apex bank claimed that they are largely used in terrorism financing and money laundering, considering the anonymity of virtual transactions.
Ojelabi, the publisher of Freelanews, is an award winning and professionally trained mass communicator, who writes ruthlessly about pop culture, religion, politics and entertainment.
