Bitcoin, which has been steadily recovering for the past few weeks, crossed the $9,000 mark on Tuesday to hit a 44-day high of $9337.
After hitting $9532 on March 11, the most popular cryptocurrency has been showing a downward trend until falling down to 6620 on April 6.
Since then, the Bitcoin market was going through a mid-term recovery, and rose by more than a third in value over the last two weeks.
Bitcoin jumped above $9,000 soon after the Tuesday morning trading session began, and it continued to climb up to $9,337.
As of 12 noon UTC (8.00 ET), Bitcoin was up 4.18 percent at $9311 as per CoinDesk's Bitcoin Price Index.
Bitcoin successfully maintaining its momentum in the $9,000 region is perceived by investors as an important level that could lead to a $10,000 mark in the short-term.
The world's most valuable cryptocurrency now has a market capitalization of more than $150 billion, though this is still down considerably from $236 billion at the start of January.
The virtual currency has generally been going through a rough patch in 2018, with multiple reasons contributing to its downward trend. Tougher regulatory scrutiny was the main factor.
Bitcoin is so volatile that predictions show an epic battle between bulls and bears wherein it could easily lose half of its value from current levels or reach past its record prices.
However, when compared to Q1 2018, when bitcoin recorded its worst first quarter ever since it started trading regularly in 2010, the current trend is promising.
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