Economy

Bitcoin surges past $15000 because why not

Bitcoin surges past $15000 because why not

"One of them is a Lehman or Enron-style fraud event, not necessarily in the Bitcoin market, but in some other cryptocurrency market, which brings to mind the wild west mentality of mid 19th-century capitalism".

Bitcoin is the largest cryptocurrency by market capitalization.

Bitcoin was eyeing $13,000 a coin Wednesday morning, less than 12 hours after soaring over $12,000 for the first time. Since the last month, Bitcoin breached the levels of USD 7,000; USD 8,000; USD 9,000; USD 10,000; USD 11,000 and now USD 12,000.

If you want to spend rather than exchange your Bitcoin for cash, the website WhereToSpendBitcoins has the latest lists of traders that will accept cryptocurrencies. The climb to today's high means the cryptocurrency has gained 1,574 percent over that time span.

Apple Reveals 'Best of 2017' Apps, Books, Games, Movies, and TV Shows
You'll find the full list on the App Store along with longer lists of the top paid and free apps and games of 2017. That's even more impressive when you consider China is already the top market for iOS App Store consumer spending.

At this point, it's worth it just to hang on your Bitcoins, given the extraordinary run that it's been on. Its market cap is now at $219.6 billion. Concerns about bitcoin mining's huge energy consumption There are growing concerns, especially among some environmentalists, of the huge energy consumption of bitcoin mining. A recent buying frenzy in the Asian nation saw speculators stocking up on the digital currency ahead of the launch of Bitcoin futures in the United States. The spree of gains, which is baffling experts who believe the valuation of Bitcoin has formed a bubble that should have popped a while ago, appears to be driven by rising demand in South Korea.

Bitcoin - which came into being in 2009 as a bit of encrypted software and has no central bank backing it - has risen from a 2017 low of $752 in mid-January, and surged dramatically in the past month. While this is possible, the derivatives can also be used to make profit as an asset loses value. Though many investors and chief executives of tech firms have criticized bitcoin, it continued to grow exponentially. Many expect a correction at any time and others even expect a crash but so far every dip has been followed by another rise and a new record high.

The price of Bitcoin has been steadily increasing over the past several weeks, with industry experts saying that the trend is likely to continue in coming days.


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