Money Bitcoin hits new record high as warnings grow louder

20:54  16 december  2017
20:54  16 december  2017 Source:   Reuters

Bitcoin futures are about to go live, and they could change the game for cryptocurrencies

  Bitcoin futures are about to go live, and they could change the game for cryptocurrencies Cboe Global Markets' bitcoin futures product launches Sunday. The product will allow investors to bet on the coin's future price and could open the door to wider-participation in the market by retail investors and institutions.Just when you thought you finally got your head around bitcoin, along comes a new bitcoin-linked financial product: bitcoin futures.

Bitcoin blasted to another all-time high of almost ,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.

LONDON (Reuters) - Bitcoin blasted to another all-time high of almost ,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.

a close up of a keyboard: FILE PHOTO: Bitcoin (virtual currency) coins placed on Dollar banknotes are seen in this illustration picture© REUTERS/Dado Ruvic/Illustration/File Photo FILE PHOTO: Bitcoin (virtual currency) coins placed on Dollar banknotes are seen in this illustration picture

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 in percentage terms since December 2013.

Volatility set to play havoc with bitcoin futures

  Volatility set to play havoc with bitcoin futures Bitcoin prices swung wildly over the weekend, heightening concerns that the new futures markets might struggle.Futures in the manic cryptocurrency markets begin trading on Monday after an extremely volatile weekend that saw the price of bitcoin crumble 25 per cent from last week's record highs.

LONDON: Bitcoin blasted to another all-time high of almost US,000 on the Bitstamp exchange on Friday, up 9% 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 have driven worries that the market is a bubble that could burst in spectacular fashion.

On Friday it reached as high as $17,900 (BTC=BTSP) on the Luxembourg-based Bitstamp exchange.

While bitcoin has added another fifth to its value since Monday, trading has been slightly calmer than the wild price swings the market has seen in recent weeks, with volatility lower since the launch of bitcoin futures from Cboe Global Markets on Sunday.

Market-watchers said bitcoin's price was being lifted by the launch of rival CME Group's bitcoin futures contracts on Sunday.

The Winklevoss twins think bitcoin could 'go up another 20 times' and trounce gold

  The Winklevoss twins think bitcoin could 'go up another 20 times' and trounce gold The Winklevoss twins think bitcoin could appreciate 20 times and trounce gold. Others say the cryptocurrency is in a bubble. Traders in the new bitcoin futures market appear bullish on the red-hot coin. Contracts for the January futures contract on Cboe Global Markets were trading well-above the spot market for bitcoin, at over $US17,500 a coin on Monday.But most traders are nowhere near as bullish as the Winklevoss twins. Tyler and Cameron Winklevoss, whose bitcoin holdings are worth more than $US1 billion, told Fox Business Monday the coin could reach well above $US300,000 a coin.

LONDON - Bitcoin blasted to another all-time high of almost ,000 on the Bitstamp exchange on Friday, up 9% on the day, as warnings grew over the risks of investing in the highly volatile and speculative instrument.

Bitcoin blasted to another all-time high of almost ,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 hope (is) that futures signal the unlocking of institutional money into the digital arena and (that there will be) a rapid demand increase and ratification of the technology and its principles," said Charles Hayter, founder of industry website Cryptocompare.

But outside of the crypto market, worries continue to grow about the amount of money piling into the space.

A study by Anglia Ruskin University, Trinity College Dublin and Dublin City University released on Friday said bitcoin could pose a threat to the financial stability of traditional currencies and markets.

"Our evidence finds that the price of Bitcoin has been artificially inflated by speculative investment, putting it in a bubble," said Larisa Yarovaya, one of the report's authors and a lecturer at Anglia Ruskin University.

a circuit board: FILE PHOTO: A coin representing the bitcoin cryptocurrency is seen on computer circuit boards in this illustration picture© REUTERS/Dado Ruvic/File Photo FILE PHOTO: A coin representing the bitcoin cryptocurrency is seen on computer circuit boards in this illustration picture

"Although bitcoin is not regulated by governments, it could still have a knock-on effect on traditional markets due to the interconnectedness of cryptocurrency markets with other financial assets."

Others, however, say bitcoin's total market size -- around $300 billion -- mean the impact of any future price collapse would not be large enough to have a knock-on effect on financial stability.

The BBC reported late on Thursday that the head of Britain's Financial Conduct Authority, Andrew Bailey, had warned that bitcoin buyers should be prepared for the possibility that they could "lose all their money".

Outages on some of the world's biggest exchanges this week, which left millions of investors unable to access their funds during periods when trading volumes are high, have also fueled concerns about the fragility of the market's infrastructure.

Bitcoin prices have slumped as Bitcoin Cash skyrockets .
Bitcoin prices fell sharply this morning, as a flood of money <g class="gr_ gr_4 gr-alert gr_gramm gr_inline_cards gr_run_anim Grammar multiReplace" data-gr-id="4" id="4">moved</g> into Bitcoin Cash.Prices have fluctuated wildly, but a short time ago Bitcoin briefly dipped below $US16,000 on the composite index provided by Coindesk.com -- a fall of more than $US2,000 from yesterday's prices.

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