Breaking News: Bitcoin stages meaningful recovery, 10% up, Ripple, Ethereum follow, Coinbase OTC cited

Bitcoin hit a high of $4,151, the highest since the crash below $4,000 on November 24th. BTC/USD is leading the charge higher along its peers. Ethereum is trading above $115 and Ripple is around $0.38.

The fresh surge is an extension of an overnight move that sent Bitcoin from the narrow trading range below $3,800 to flirting with $4,000. Cryptocurrencies have been on the back foot in the past two weeks. BTC/USD fell below $6,000 on November 14th and then crashed below $5,000 on November 19th. Another five days later, and the world's most popular currency pair dropped under $4,000 all the way to $3,456, the lowest since September 2017.

The most significant news comes from Coinbase. One of the world's leading crypto exchanges announced an Over The Counter (OTC) service) in addition to its exchange, attracting institutional investors. The move makes trading digital coins more appealing to finance heavyweights.

Here is how it looks on the chart:

BTC USD technical chart November 28 2018

more to come

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bears take over and draw a bloody moon

Cryptographer and computer scientist Nick Szabo, has presented in his Twitter account a study on the "risk-benefit" ratio of different assets. The study used a Sharpe Ratio over four years Hodl period.

More Bitcoin News

ETH/USD bears flip the bulls, target shifts to $5

Ethereum Classic is facing the ultimate correction following a massive bull-run that had it hit January highs around $12 from December lows at $3.41. The persuasive urge upwards has, however, ended in losses due to a lack of ...

More Ethereum Classic News

Ripple's CEO sees an era of IPO in cryptocurrency industry

Ripple's XRP, the third-largest digital asset with the current market value of $9.4 billion has lost over 5% in recent 24 hours and hit the low of $0.2136 on Friday. XRP/USD is moving within a clear bearish trend amid expanding volatility.

More Ripple News

The Crypto Sector in selloff mode searches a support zone

Most of the cryptocurrency sector accelerated the losses after breaking the neckline of support that was holding their prices. The selling pressure was in almost all digital assets.

More Cryptocurrencies News


Bitcoin Weekly Forecast: Bitcoin bulls and bear fight gets a tougher edge

The cryptocurrency market started the downside correction after a strong rally initiated by risk reversal play at the beginning of January and reinforced by various altcoin pumps...

Read the weekly forecast