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Bitcoin jumps above $8,000, bringing gains this week to more than 18 percent

Bitcoin climbed again Friday, reaching its highest since late March.

The cryptocurrency briefly rose more than 6.5 percent over the last 24 hours to a high of $8,204, its highest in more than two weeks, according to Coinbase.

Bitcoin traded near $8,111 as of 11:56 a.m. ET Friday, up 18.9 percent for the week.

The gains followed a sudden spike Thursday from a low of $6,786 to above $8,000. The move forced traders who had bet against bitcoin to buy back into the market, or cover their shorts.

Other cryptocurrencies also jumped Friday. Ethereum traded about 4 percent higher, near $512, while ripple rose roughly 7 percent to 67 cents, according to CoinMarketCap.

Author: Currency

Updated: April 13, 2018 — 6:33 pm

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