Bitcoin reaches its huge milestone of $10000

30 Novembre, 2017, 12:15 | Auteur: Auguste Feret
  • TheMerkle Bitcoin price Over 9000

Bitcoin, a worldwide cryptocurrency, has surged to a record high on Monday.

However, there has been some concern about Bitcoin's rise with BoE deputy governor Sir Jon Cunliffe telling BBC Radio 5 Live this morning: "This is not a currency in the accepted sense". It was created less than a decade ago, and is used to buy merchandise anonymously.

Indeed, on Sunday, bitcoin's price topped $9,000 - just seven days after hitting $8,000 - the fastest thousand-point rally in bitcoin's history, according to CoinDesk, and just a few weeks after the price dropped below $3,000.

The cryptocurrency jumped to an all time high of more than $9600 dollars. The digital currency has gained more than 50 per cent since the CME announced its decision on October 31. "With no intrinsic value to bitcoin, it's hard to see this as anything other than a giant speculative bubble".

Rising speculation on cryptocurrencies like bitcoin could cause kids to get into crime such as drug trafficking or pyramid schemes, South Korea's prime minister said Tuesday.

Bitcoin is a virtual currency that emerged in the aftermath of the financial crisis.

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It is positive, as 85 investors sold WFC shares while 685 reduced holdings. 110 funds opened positions while 566 raised stakes. Finally, Vertical Group began coverage on shares of Wells Fargo & Company in a research report on Friday, October 6th.

In the meantime, read up on our cryptocurrency investing guide to learn all about how bitcoin, ethereum and other digital currencies work - and the pros and cons of owning some.

Sayed said it was nearly impossible to give the cryptocurrency a fair value based on fundamentals, but added that there had been a strong correlation between the price of bitcoin and number of users opening new wallets.

The starkest warning has come from the JP Morgan chief executive, Jamie Dimon, who said bitcoin was a fraud that would ultimately blow up.

However, with the rocketing price increases comes warning from many banks and investors that the bubble could be close to bursting.

"If the carrot of self-regulation proves insufficient, the regulators will not hesitate to use their stick".

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