Bitcoin jumps above $8,000

Bitcoin jumps above $8,000

bitcoin price hike

Bitcoin climbed again Friday, reaching its highest since March 2018.

The Bitcoin 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 $8,085 as of 4:07 p.m. ET Friday, up 18.2 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.

Bitcoin jumps above $8,000

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