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Bitcoin

Bitcoin futures launch sparks excitement, warnings

NEW YORK: Bitcoin will make its debut on a major exchange Sunday, a landmark for the cryptocurrency that has generated enthusiasm among some investors and more than a little anxiety from others. The Cboe Futures Exchange in Chicago will open trading in bitcoin futures at 2300 GMT on Sunday, a move that is expected to be followed a week later by a rival listing on Chicago Mercantile Exchange. "Bitcoin bonanza takes hold of world markets," proclaimed the front page of the Times of London on Friday, reporting on the…

Bitcoin plunges 15% to below $14,500 after hitting new record

SINGAPORE: Bitcoin plunged as much as 15 percent to below $14,500 on profit-taking Friday, capping a roller-coaster week that saw the currency hit a series of record highs and underlining concerns about its volatility. The virtual currency, which has no central bank backing and no legal exchange rate, briefly hit a new record of $17,000 before plunging to $14,480 in Asian afternoon trade, according to Bloomberg News. It clawed back some ground and stood at $16,100 in later trading. Created in 2009 as a bit of…

Bitcoin surges above $17,000 as concerns mount

TOKYO: Bitcoin briefly crossed through the $17,000 (£12,615) mark in volatile Asian trading, triggering a warning the cryptocurrency was like a "train with no brakes" and prompting fresh concern about its looming launch on mainstream markets. Still under $14,000 in Asian trading hours, it smashed through $15,000 in European trading and got as high as $16,777 before pulling back, according to Bloomberg data. Near 2145 GMT, bitcoin surged above $17,000. The rally came just a day after the virtual currency, which has been…

Six reasons why you should not invest in Bitcoin, according to experts

“Forget about investing in any venture when the Bitcoin is here with surging profit on the cards.” This is how people are reacting with surging demand of the cryptocurrency. But is it really safe venture into this mysterious digital currency? Let’s explore what experts have to say. Bitcoin is a virtual currency created from computer code. Unlike a real-world unit such as the US dollar or euro, it has no central bank and is not backed by any government. Instead, Bitcoin's community of users control and regulate it.…

New milestone: Bitcoin blows past $14,000… what’s next?

SINGAPORE: Bitcoin hit a fresh record of $14,000 Thursday as investors piled in, triggering a warning the cryptocurrency was "like a charging train with no brakes" which would inevitably slip back. It touched a new a high of $14,400 in Asian trade before slipping back to $13,900, according to Bloomberg News. The rally came just a day after the virtual currency, which has been used to buy everything from an ice cream to a pint of beer, hit the $12,000 mark for the first time. Bitcoin -- which came into being in 2009…

$12,000 and rising: Bitcoin’s price soars to all-time high

TOKYO: Bitcoin extended its eye-popping rally on Wednesday, breaking above $12,000 to a record high despite questions about the cryptocurrency’s real value and worries about a dangerous bubble. Bitcoin received a boost after Friday’s announcement by the main U.S. derivatives regulator that it would allow CME Group Inc and CBOE Global Markets to list bitcoin futures contracts. The move opens the door to added regulation but also more mainstream adoption, as bitcoin futures and other derivatives would make it easier to…

It’s no joke – Bitcoin’s price is now $11,000

NEW YORK: Bitcoin surged above $11,000 for the first time on Wednesday as it extends a stratospheric rise that has delighted investors but sparked fears of a bubble. The virtual currency achieved its first landmark of a historic day early in the Asian trading session, breaching $10,000 for the first time, according to Bloomberg News figures. The surged continued and it got as high as $11,434 before tumbling to $9,643 near 1930 GMT, a drop of 15 percent in just a few hours. The cryptocurrency started the year at just…

Bubble or brave new world? Bitcoin breaks $10,000 barrier

SINGAPORE: Bitcoin broke through the $10,000 barrier for the first time on Wednesday as it extends a stratospheric rise that has delighted investors but sparked fears of a bubble. The virtual currency hit a high of $10,903 in Asia, according to Bloomberg News, about 14 times its value at the start of the year. The breakthrough is the latest in a spectacular run for the online money dubbed "digital gold" by its advocates, which began life in 2009 as a bit of encrypted software supposedly written by an unknown coder with…

$10,000 in sight for bitcoin as it rockets to new record high

LONDON: Bitcoin’s vertiginous ascent showed no signs of stopping on Monday, with the cryptocurrency soaring to another record high just a few percent away from $10,000 after gaining more than a fifth in value over the past three days alone. The digital currency has seen an eye-watering tenfold increase in its value since the start of the year, and has more than doubled in value since the beginning of October. It surged 4.5 percent on the day on Monday to trade at $9,687 on the Luxembourg-based Bitstamp exchange.…

Bitcoin, an ‘Uber’ currency, not without risk

Bitcoin, which this week soared to a new record high of more than $8,000, is the monetary equivalent of Uber, since it bypasses central bank regulation and could be attractive for financially fragile countries, economists say. Nevertheless, it is precisely the lack of oversight that opens up the users of cryptocurrencies such as bitcoin to risks and dangers, analysts warn. "Bitcoin? It's about 'Uber-ising' currency, about not having a central bank that decides the price," said Ludovic Subran, chief economist at credit…