Bitcoin rises 1.5%, cryptocurrencies' market value passes $400 billion

Bitcoin rose over 1.5% on Monday, resuming the gains that took a hiatus in the weekend on profit-taking, with market value of cryptocurrencies moving above $400 billion for the first time in over six weeks on strong demand in the last few weeks. 

At Bitstamp, bitcoin rose $146, or 1.6% to $8,927 from the opening of $8,781, with an intraday high at $8,961, and a low at $8,771. 

Bitcoin shed 1.6% on Sunday, the first loss in five days on profit-taking after marking four-week highs at $9,036. 

Bitcoin rose 6.1% last week, the second weekly profit in a row, while surging over 25% in the last two weeks. 

Market value of cryptocurrencies rose $6 billion on Monday to a total of $401 billion, the highest since March 8. 

Cryptocurrencies recouped over $100 billion of value in the last two weeks as selling operations took a break in the US in particular, while new liquidity entered the market. 

Many US traders and investors faced the tax season, which made some sell their bitcoins and other cryptocurrencies to settle their financial affairs. 

Several reports pointed to improved demand in the short and medium terms, but keeping the momentum for the long term would be a challenging process. 

In a piece of positive news, global investment bank Barclays is reviewing the possibility of launching a cryptocurrency trading platform, especially after initial assessments showed interest from clients to trade in cryptocurrencies.