It's safe to say Friday wasn't the most stable day for the (BTC/USD) exchange rate.
After news of exchange shake-ups in China triggered a wave of panic selling, prices fell below $3,000 for the first time in months. Overall, this was the lowest total observed on the CoinDesk Bitcoin Price Index since August 5, when a V-shape recovery saw prices rise all the way to $3,875.
Yet, just a few days later, the price is already back at that level, having gained 33% in three days.
The sharp recovery could be attributed to oversold technical conditions and to the relief offered by news that China’s exchange ban would not impact all forms of cryptocurrency trading.
Full story at http://bit.ly/2w51Kgk
Source: CoinDesk
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