Bitcoin price - live: Crypto market launches comeback as ethereum and doge lead fresh price rise

Bitcoin is up more than 8 per cent since yesterday, with other leading cryptocurrencies like Ethereum (ether) and Cardano (ada) seeing even bigger price gains.

Every one of the top 10 most valuable cryptocurrencies rose significantly, marking a positive start to a new month for the crypto market. The relative recovery appears to back up the prediction of several prominent analysts that bitcoin and its rivals continue to have a bullish outlook for 2021 despite May’s price crash.

Tesla boss and part-time cryptocurrency enthusiast Elon Musk has once again been tweeting about his favourite meme currency, dogecoin. Replying to a proposition on Twitter on Monday night to DJ at a “Doge Festival”, Mr Musk wrote: “Sounds kinda fun”.

Meanwhile Changpeng Zhao (CZ), the CEO of the crypto exchange Binance, has made a veiled jab at the technology billionaire by claiming that bitcoin’s electricity consumption is not inherently bad, comparing it to electric cars.

We’ll have all the latest news right here.