Crypto markets had a sleepless week – until Friday. Bitcoin didn't rally much on Thanksgiving, but hit an 18-month high the next day, touching $38,000 a coin.
The last time it reached that level was in May 2022, before the collapse of crypto megaproject Terra, which led to a fall in the value of every coin and token and the bankruptcy of major digital asset companies.
Bitcoin is trading flat today at $37,751 in 24 hours. During the week, it is about 3%.
CNBC's Jim Cramer said he bought bitcoin mainly until the bash, saying people should buy the currency again.
The increase in crypto investment products from big money investors is helping to boost the value of the asset and the rest of the market.
Ethereum hit an 18-month high before dipping again on Friday. It is now trading at $2,079, up 6.5% in seven days.
Solana, who was on a tear for most of November, just slowed down: the coin is now trading at $58.59. That's less than 2% in 24 hours and essentially flat activity for the week.
Also, Dogecoin, the original meme coin that is the 10th largest digital asset by market capitalization, rose 1.3 percent on the previous day.
It's not just digital coins and tokens that have had a good week. Interest in traditional crypto stocks has increased. Shares of Coinbase also shot up on Friday; At the close of trading, the Nasdaq coin traded at $115.54 a share—up more than 6% in 24 hours.
MicroStrategy—which trades as MTSR and is Bitcoin's largest corporate owner—also took off. Its shares are now at $520.24 a pop. They haven't been that high since December 2021.
Edited by Ryan Ozawa.
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