After this week’s plummeting prices, it appears that the Bitcoin market is recovering, albeit at a very slow rate. However, experts have now warned that the price of Bitcoin needs to reach over $12,500 to combat further losses.

The recovery of Bitcoin, which is being dubbed the ‘V’ shaped recovery, has remained under the $12,000 rate after 17th January’s low. On 18th January, the price of Bitcoin did rise slightly to $12,045.09, according to the Bitcoin Price Index, yet only before falling back down to below $11,500.

What’s more, the sliding price of Bitcoin continued during trading hours this morning but then regained its place at $11,808.49. These recent statistics now show that the world’s largest cryptocurrency has risen by 3.17% in the space of 24 hours. In addition to this, BTC has also grown 27% from a weekly low of $9,199.59.

However, experts have warned that this doesn’t mean that the Bitcoin or other cryptocurrencies are out of the dark yet. Analysis of the digital currency price chart indicates that the current forecast is neutral. Many experts have agreed that only two whole trading days above $12,500 would greatly improve and increase the chances of BTC.