Bitcoin surges past $15000 because why not

Remigio Civitarese
Dicembre 8, 2017

Bitcoin rocketed above $19,000 for the first time on Thursday before falling sharply from its record high.

But critics say that the price run-up is a bubble that has been driven mostly by speculation, leaving bitcoin vulnerable to a sharp reversal, Reuters noted. It started the year at around $1,000.

Additional data from CoinMarketCap highlights the price disparities, though it seems that a number of the top-10 exchanges are seeing prices below $16,000, including Bitstamp, Gemini and HitBTC.

At its current rate, it may hit $16,000 before the end of the day. "This is a very, very unusual market, that shows we're not in a normal two-way trading market".

Daily price swings of that magnitude and weakness at the exchanges underscored concerns raised Wednesday by some of the world's biggest brokerages, which told regulators the contracts have been rushed to market without enough due diligence.

Bitcoin's price surged today amid mayhem on the larger exchanges where the digital asset is traded.

Between 5 and 6 a.m., bitcoin hit its latest milestone after soaring through $12,000 on Tuesday night, according to CoinDesk.

Coinbase added at least 300,000 users since just before the Thanksgiving holiday. Chicago-based CBOE Global Markets is planning to launch bitcoin futures on Sunday, while the world's largest futures exchange, CME, is set to launch its futures product the following week.

ASX Ltd, the main exchange operator for equities and derivatives in Australia, on Thursday said it will start using blockchain, the technology that underlies bitcoin, to process equity transactions. The addition of bitcoin futures by two respected exchanges marks another step towards establishing the digital currency as a legitimate asset class. The cryptocurrency rival offers a separate solution to bitcoin's congestion issue.

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