Bitcoin Christmas Rally in Full Effect

After spending a week in the $3.10 to $3.30 range, Bitcoin has made a strong 12% move to the upside on the Mt.Gox USD market, hitting $3.70 and threatening to take out the seven-week high of $3.82 previously hit on October 29th.

Chart courtesy of BitcoinCharts.com

The month-long bull market has been confirmed in a big way. Pay attention, stock markets, this is what a Christmas rally is supposed to look like.