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

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