Bitcoin surges past $15000 because why not

Bitcoin crosses $17,000 mark skyrockets more than $5000 in 2 days

Bitcoin crosses $17,000 mark skyrockets more than $5000 in 2 days

Bitcoin surged past the $15,000 mark Thursday just 10 hours after topping $14,000, CNBC reported.

But critics say that the price run-up is a bubble that has been driven mostly by speculation, leaving bitcoin vulnerable to a sharp reversal, Reuters noted. That takes its rally this year past 1,500 percent.

What's further disturbing is how widely the prices are varying across exchanges, there doesn't seem to be a stable consensus on where the price is at.

Investors flocking to open new accounts or place orders Thursday left Coinbase, the largest U.S. exchange, warning of outages and slow transactions.

At its current rate, it may hit $16,000 before the end of the day.

"This is irrational exuberance", Royal Bank of Scotland Chairman Howard John Davies said in an interview on Bloomberg TV on Thursday.

The new bitcoin derivatives products are slated to begin trading this month and are expected to boost mainstream demand.

The slowdown on exchanges also highlighted the disparate pricing that can occur. While bitcoin prices on Coinbase's GDAX exchange approached almost $19,000 (!) this morning, others had the price sitting at thousands of dollars less.

The price of bitcoin was all over the place on Thursday, with numerous exchanges listing it at drastically different prices. The company had 13.3 million users as of November 26, up from 13 million on November 22 and 10.6 million two months ago. Those warnings were laid out in an open letter via the Futures Industry Association on Wednesday.

Investors continue to pile into Bitcoin ahead of the launch of futures contracts by CBOE at the weekend in the United States. Nasdaq is said to be planning to offer futures in 2018. For example, New York-based Gemini had temporary suspended both bitcoin and ether withdraws this morning since the odds of a transaction actually processing were so low. The addition of bitcoin futures by two respected exchanges marks another step towards establishing the digital currency as a legitimate asset class.

Lightning Network, as the technology is known, was conceived to move some transactions away from the blockchain, by allowing buyers and sellers to transact privately and later broadcast their activity to the public network.

Notícias recomendadas

  • Canning Vale fight: Witnesses tell of bloody brawl aftermath

    Canning Vale fight: Witnesses tell of bloody brawl aftermath

    A red sports-style vehicle was seen at the Eucalyptus Boulevard scene with its windscreen shattered. I went back inside and had a shower to wash off the blood that was on me.

    Cantor Fitzgerald Comments on Fidelity National Information Servcs Inc's FY2018 Earnings (FIS)

    With 59.08 PE being lower than forecasted 5Y growth at 12.42% 5Y, earnings per share is expected to grow higher than its prices. Joseph Piotroski developed the F-Score which employs nine different variables based on the company financial statement.
    West Midlands Police officer admits Official Secrets Act charge

    West Midlands Police officer admits Official Secrets Act charge

    Assistant Chief Constable Marcus Beale pleaded guilty to an offence under the Official Secrets Act after the documents were stolen from an unmarked police vehicle in May.
  • Red Cross deploying Tucson volunteer to assist California wildfires

    Red Cross deploying Tucson volunteer to assist California wildfires

    The fires are threatening thousands of homes and evacuations have been ordered for 140,000 residents. Unsafe fire conditions are expected to be a threat for Southern California for much of this week.
    The Liberum Capital Reiterates Buy Rating for AFH Financial Group Plc (AFHP)

    The Liberum Capital Reiterates Buy Rating for AFH Financial Group Plc (AFHP)

    Investors sentiment increased to 1.26 in 2017 Q2. 12,736 shares were sold by JOHNSON RICHARD E, worth $525,505. The stock of MJ Gleeson plc (LON:GLE) has "Corporate" rating given on Monday, September 26 by N+1 Singer.
    City XI - Pogba In, De Bruyne Out?

    City XI - Pogba In, De Bruyne Out?

    Manchester United will be hoping to move to within five points of the Premier League leaders with a win against Manchester City . Fernandinho expects Manchester United to feel the absence of Paul Pogba in this weekend's derby against Manchester City .
  • The Express Scripts Holding Company (ESRX) Position Reduced by WealthTrust Fairport LLC

    On a percent-of-sales basis, ESRX's free cash flow was 1.8% while ANTM converted 2.27% of its revenues into cash flow. Factory Mutual Ins holds 766,488 shares or 0.57% of its portfolio. 36,103 were reported by Glg Ltd Liability Company.

    Pivotal Research Reaffirms Hold Rating for Salesforce.com (NYSE:CRM)

    Fred Alger Management Inc. raised its position in salesforce.com, inc.by 5.6% in the fourth quarter. (NYSE: CRM ) or 1,000 shares. What do you think is the future for Salesforce.com, inc.? The firm has "Buy" rating by Citigroup given on Thursday, September 1.
    Solo running for president of US Soccer Federation

    Solo running for president of US Soccer Federation

    Soccer when playing for the U.S. women's national team, is now trying to lead the entire federation. She's as big a long shot as you will find to replace Sunil Gulati in February.
  • Martial law extension needed to address continuing armed threats

    Martial law extension needed to address continuing armed threats

    This is the recommendation of the armed forces and the national police to President Rodrigo Duterte, officials said Friday. Martial law in Mindanao must be extended.
    Norberto Rivera deja la Arquidiócesis, queda Carlos Aguiar Retes

    Norberto Rivera deja la Arquidiócesis, queda Carlos Aguiar Retes

    Vivió en Roma para especializarse en las sagradas escrituras, luego presidió la Organización de Seminarios Mexicanos. También en redes sociales, Aguiar Retes agradeció al Papa Francisco por su designación.

    How Have Pandora Media, Inc. (P) EPS Forecasts Changed?

    Finally, Aperio Group LLC purchased a new stake in shares of Pandora Media in the second quarter worth approximately $115,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink .

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.