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Bitcoin hits new record high as warnings grow louder

LONDON: Bitcoin blasted to another all-time high of almost $18,000 on the Bitstamp exchange on Friday, up 9 percent on the day, as warnings grew over the risks of investing in the highly volatile and speculative instrument. The cryptocurrency’s staggering recent price rises -- more than 1,700 percent since the start of the year -- have driven worries that the market is a bubble that could burst in spectacular fashion. Bitcoin has climbed almost 80 percent so far in December alone, putting it on track for its best month…

$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 soars to record high above $6,000

NEW YORK: Bitcoin surged to a record high of more than $6,000 on Friday, pushing its market capitalization to $100 billion at one point, as investors continued to bet on an asset that has a limited supply and has paved the way for a whole slew of crypto-currencies. The original virtual currency has gained over 500 percent this year, more than any other tradable asset class. Bitcoin though is very volatile - posting gains and losses as high as 26 percent and 16 percent respectively on any given day. On Friday, bitcoin…

Apple hits record high but leaves some investors in dust

SAN FRANCISCO: Apple shares cruised to a record-high close Monday, helping catapult the S&P 500 stock index over the $20 trillion mark in what amounts to a victory for plain-vanilla mutual funds over a bevy of hedge fund managers who recently backed away from the iPhone maker. The largest component of the S&P 500 and a core holding on Wall Street, Apple’s stock climbed 0.9 per cent to end at $133.29, above its record high close of $133.00 hit on Feb. 23, 2015 and giving it a market value of about $699 billion.…