Bitcoin Price Recovers to $15,000 in Boxing Day Rally

The bitcoin price recovered to $15,000 during a Boxing Day rally that restored some semblance of stability to the markets following a month of extraordinary volatility.

In a break from the recent trend, no top 10-cryptocurrency moved more than 10 percent against the dollar, and just three moved more than five percent. Altogether, the cryptocurrency market cap posted a single-day rally of $18 billion, which works out to an increase of about three percent.

Bitcoin Price Recovers to $15,000
The bitcoin price climbed to $15,000 on Tuesday, continuing a Christmas recovery that began after shaking out weak hands just days prior. At the time of writing, the bitcoin price was trading just below that mark on Bitfinex, representing a single-day increase of approximately seven percent. Bitcoin now has a market cap of just over $250 billion.

This must frustrate bitcoin skeptics, many of whom rushed to publish bitcoin obituaries after the flagship cryptocurrency stumbled 30 percent leading into the holiday weekend. But, as CCN pointed out in its analysis of the incident, the bitcoin price has fallen by at least 30 percent six times in 2017 alone, and each of those hiccups has ultimately been followed by a significant breakout.

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