Bitcoin retreats as upward momentum to breach $4,000

Bitcoin fell marginally on spot trade at Tuesday as to gather the bullish momentum needed to trade above the psychological barrier of $4,000, as heading to new highs in several weeks, this takes place in the positive atmosphere that dominates the digital market at the moment .

As of 08:10 GMT at Bitstamp, Bitcoin is trading around $3,960, down $9, or 0.2%, from $3,969, the highest at $3,985 and the lowest at $3,947.

Bitcoin rose marginally by 0.1% on Monday, its fourth gain in the past five days, while on Saturday it hit a three-week high of $4,040 per unit.

Bitcoin gained 1.7% over last week's trading, the fourth weekly gain in a row, as investment demand gradually improved on the world's largest cryptocurrency.

The market value of cryptocurrencies on Tuesday fell by less than half a billion to a total of $139 billion, with a slight decline in most of the major currency prices in the market.

Whilst the the market value of Bitcoin rose by about $11 billion within 24 hours on March 16, Bitcoin's largest jump since April 25th 2018, in a strong sign that market participants are gradually heading to the leading cryptocurrency.

The positive atmosphere dominates the crypto market at the moment, with the total value of the cryptocurrencies reflecting a stable approach near their highest levels in almost a month.

The market is showing further evidence of ending its bottom's journey to access new bullish phase, with most of the major cryptocurrencies above their yearly lows and a new bullish trends starting.

The Winklevoss brothers the developers of the Gemini Digital Exchange welcomed the aspirations of the Facebook platform, saying that the cryptocurrencies will initiate a greater progress pace compared to social networking platforms.