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Bitcoin

Bitcoin fever exposes crypto-market frailties

NEW YORK: As bitcoin raced to another record high on Tuesday, one of the biggest providers of digital currency wallets, Coinbase, went down under the weight of traffic, leaving many of its more than 10 m At the same time, Bitfinex, the world’s biggest bitcoin exchange by trading volume, said it was under a heavy denial-of-service (DDoS) attack, meaning its servers had been intentionally flooded with junk online requests, taking down its website and crippling its services. The latest outages show how the market…

The SEC just issued a warning to ‘Bitcoin’ investors

NEW YORK: America’s chief financial regulator is warning investors against cryptocurrency scams, saying trading and public offerings in the emerging asset class may also be in violation of federal securities law. The statement by the chairman of the U.S. Securities and Exchange Commission (SEC) Jay Clayton came just hours after the U.S. securities watchdog stepped in to stop an “initial coin offering” (ICO) from a restaurant review app, after the company failed to register it as a security. Clayton’s comments come as…

Bitcoin makes muted stock exchange debut at $15,000

NEW YORK: Cryptocurrency Bitcoin made its debut on a major bourse Sunday, opening at $15,000 per unit at the Chicago board options exchange.  Around 23:20 GMT, the price of the currency had risen to $15,940 dollars on a futures contract scheduled for settlement on January 17 according to data provided by the Chicago board options exchange (Cboe). A futures contract is a financial product that allows investors to bet on whether the currency's price will rise or fall. It is the first opportunity for professional…

Bitcoin futures surge past $18,000; Asian shares firm

SYDNEY: The craze for cryptocurrencies entered a new chapter on Monday as bitcoin futures rocketed by one-fifth of their value at a closely-watched launch, while Asian shares climbed amid optimism about global growth. The most-traded contract on the Chicago-based CBOE Global Markets exchange XBTc1 opened at $15,460 in New York on Sunday evening, before leaping to a high of $18,700 - a gain of 21 percent. They were last quoted at $17,550 a premium of more than $1,600 to the price on Gemini Exchange. The futures are…

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…