Price rebounds almost 50% on GDAX exchange from last Friday's low
Cryptocurrencies were the big topic heading into the Christmas weekend, and the "crash" on Friday surely made for some interesting conversations with friends/family.
Bitcoin's price rebounded from the lows on Friday, but on Sunday, the fall resumed again - but stalled at the November upward trendline. That's the same trendline that I pointed out here.
Whether or not technicals are helping traders as a guide to find a support level, the fact is that we're seeing some form of stability after the 47.7% fall from this year's high.
If you take today's high @ 15,710 from the GDAX exchange and measure it against the lowest point from Friday's drop @ $10,400, that's a staggering 51% recovery.
At your New Year's party, expect people to have forgotten about last Friday's events. Everyone will just be talking about how it rebounded ~50% over Christmas.
