Bitcoin hits new record high amid warning it could crash
Concerns are growing over the risks of investing in the
highly volatile and speculative virtual currency, bitcoin as the price reaches a record new high.
Bitcoin surged to another all-time high of just over $US17,750,
up 8 per cent on opening, as concerns grow over the risks of investing
in the highly volatile and speculative instrument.
The
cryptocurrency's staggering price rises - more than 1700 per cent since
the start of the year - have driven worries that the market is a bubble
that could burst in spectacular fashion.
Bitcoin has climbed more than 77 per cent so far in December alone, putting it on track for its best month in percentage terms since December 2013.
On Friday it reached as high as $US17,752.99 on the Luxembourg-based Bitstamp exchange.
Reuters
Bitcoin has climbed more than 77 per cent so far in December alone, putting it on track for its best month in percentage terms since December 2013.
On Friday it reached as high as $US17,752.99 on the Luxembourg-based Bitstamp exchange.
Reuters
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