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

Bitcoin climbed once more Friday, reaching its highest since late March.

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The cryptocurrency briefly rose more than 6.5 p.c over the past 24 hours to a excessive of $eight,204, its highest in more than two weeks, in accordance to Coinbase.

Bitcoin traded close to $eight,111 as of 11:56 a.m. ET Friday, up 18.9 p.c for the week.

The gains adopted a sudden spike Thursday from a low of $6,786 to above $eight,000. The transfer compelled merchants who had wager towards bitcoin to purchase again into the market, or cowl their shorts.

Different cryptocurrencies additionally jumped Friday. Ethereum traded about four p.c larger close to $512, whereas ripple rose roughly 7 p.c to 67 cents, in accordance to CoinMarketCap.

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