Bitcoin surges past $14000 and touches a new record

Bitcoin Speculation Running to $15,000 This Month Limits Off

Dash and bitcoin gold were pummeled the hardest, with each plunging more than 40 percent for the week.

Bitcoin ploughed past $14,000 to a fresh record on Thursday as investors continued to pile in, triggering a warning the cryptocurrency was "like a charging train with no brakes" that would inevitably slip back. In the past day alone, bitcoin rose more than $2,000, clipping past the $13,000, $14,000, and $15,000 markers in quick succession. "And it's clearly not, otherwise it wouldn't be where it is already", said Walter Zimmerman, technical analyst at ICAP TA. Just one day later, however, you'd be able to sell that bitcoin for $15,000. For those that are just hearing the term for the first time, it can sound a little confusing, and a much better explanation can be found at bitcoin casinos.

Cboe Global Markets Inc. has said it will start trading bitcoin futures on December 10, while CME Group's contracts are set to debut on December 18.

Instead, other popular digital assets like Ethereum and Bitcoin Coin have actually been tumbling as bitcoin soars like a rocket ship. "The stakes are quite a bit higher when it comes to releasing for the main bitcoin network".

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"There is an unfathomable amount of new participants piling into the cryptocurrency market", Shane Chanel of ASR Wealth Advisers told AFP. But it's a safe bet that we'll see a lot more volatility in the coming days. "When the price does turn and there is confusion, even panic.... then watch the short sellers come out in droves", he said. Transactions happen when heavily encrypted codes are passed across a computer network.

Bitcoin is a decentralized system based on blockchain technology, which any user participating in the system can "mine" (emit) by creating new blocks of the structure using a computing device.

"ASX has been carefully examining distributed ledger technology for nearly two and a half years, including the last two years with Digital Asset", explained ASX chief executive Dominic Stevens, saying that use of the technology would put Australia "at the forefront of innovation in financial markets".

Yahoo co-founder Jerry Yang is of the opinion that while cryptocurrencies have the potential to play a significant role in society, Bitcoin is now far from functioning as a transaction currency.

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