Crypto markets had a sleepy week—until Friday. Bitcoin had barely budged on Thanksgiving but the next day it hit an 18-month high, touching $38,000 per coin.

The last time it hit that level was before the collapse of crypto mega project Terra in May 2022 which led to a fall in the price of every coin and token and the bankruptcy of major digital asset companies.

Bitcoin is today trading for $37,751, flat over 24-hours. Over the week, it’s up about 3%.

CNBC’s Jim Cramer who famously bought Bitcoin only to then bash it even said that people should buy up the cryptocurrency again.

A surge of cash into crypto investment products from big money investors is helping push up the price of the asset—and the rest of the market.

Ethereum also hit an 18-month high before dipping again on Friday. It’s right now trading for $2,079, having risen 6.5%

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Author: Mathew Di Salvo

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