Another day, another record: Bitcoin juggernaut hits new high of $15000

Marco Green
December 7, 2017

As reported by CoinDesk, Bitcoin's price jumped $1,000 within 24 hours as you can see in the chart below.

Bitcoin has broken another record, this time crossing the $12,000 mark, and shows no sign of slowing down yet.

Bitcoin was trading at United States dollars 12,269 at 8:12 AM, according to industry site CoinDesk.

December 6, 2017, 1:53 p.m. CET Less than 12 hours after it first passed the price of $12,000, Bitcoin is now trading at over $13,000.

However, many financial experts and exchanges have adopted the cryptocurrency.

The most recent rise, as noted by The Telegraph, came as British payments app Revolut announced it was planning to let users buy and sell cryptocurrencies in European markets.

Based on speculation alone, experts suggested value was positively impacted by the news.

Despite its bull run, the cryptocurrency's lack of government backing and regulation has led to volatility.

For years, bitcoin has been the primary method of paying for illicit goods on the so-called dark web.

Could it be a bubble?

The celebration is in full swing as Bitcoin continues its upward momentum, reaching a new all-time high as it smashes through the $13,000 mark.

That question has become a topic of intense debate for those operating in the financial services industry.

The latest buying spree was reportedly triggered by growing interest among South Korean speculators, as well as rumors about bitcoin derivatives that will be on sale in the U.S. by next week.

Yet, as previously noted, others disagree.

"This is a toxic concept for investors", said Roach, who has been described by Yale as one of Wall Street's most influential economists. The price surge has been accompanied by a growing chorus of warnings that the speculative frenzy is an asset bubble poised to burst. And bitcoin is the most vertical of any pattern I've ever seen in my career.

Other reports by Click Lancashire

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