In an explosive market recovery, Bitcoin has blasted past $38K to make over 25% weekly gains.
The bearish mood began to shift on Wednesday, when Elon Musk appeared at the “The B Word” conference and made clear that he has not lost his affection for Bitcoin. Then on Friday, news that Amazon is hiring a blockchain expert helped push prices even higher.
In the face of such bullish strength, concerns about impending regulation were shrugged off, and rising prices were seen across the crypto market. Layer 2 solution Polygon led the way with 45% gains, Stellar surged 30% on rumors that the Stellar Foundation is acquiring MoneyGram, and Ethereum celebrated equally large gains.