Bitcoin surges above $13,000 to new high

From BBC - December 6, 2017

Bitcoin has surged above $13,000 (9,710; 11,020) to a new record high despite warnings the digital currency's rapid rise could be a dangerous bubble.

The coin has seen its value double in the last month in a volatile journey.

Its latest milestone came after Bitcoin surged by another $1,000 in value in less than 24 hours.

Spread betting firm CMC Markets said the rise had all the symptoms of a bubble market, warning "there is no way to know when the bubble will burst".

What's behind the Bitcoin gold rush?

US regulator approves Bitcoin trading

What is Bitcoin?

There are two key traits of Bitcoin: it is digital and it is seen as an alternative currency.

Unlike the notes or coins in your pocket, it largely exists online.

Secondly, Bitcoin is not printed by governments or traditional banks.

A small but growing number of businesses, including Expedia and Microsoft, accept bitcoins - which work like virtual tokens.

However, the vast majority of users now buy and sell them as a financial investment.


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