Bitcoin mania as investors wanting to make a buck push it above US$11,000

Bitcoin zoomed past US$11,000 (NZ$16,000) to hit a record high for the sixth day in a row on Wednesday after gaining more than US$1000 in just 12 hours, stoking concerns that a rapidly swelling bubble could be set to burst in spectacular fashion.

After soaring more than 1000 per cent since the start of the year, bitcoin rose as much as 15 per cent on Wednesday.

It topped US$10,000 for the first time in early Asia trading, before surging above US$11,000 less than 12 hours later to reach US$11,395 on Luxembourg-based Bitstamp, one of the largest and most liquid cryptocurrency exchanges, and then dipping back below US$11,000.

Bitcoin’s rapid ascent has led to countless warnings that it has reached bubble territory. But the warnings have had little effect, with dozens of new crypto-hedge funds entering the market and retail investors piling in.

from Eve’s Feed http://www.stuff.co.nz/business/world/99385409/Bitcoin-mania-as-investors-wanting-to-make-a-buck-push-it-above-US-11-000

from
https://evewilki1971.wordpress.com/2017/11/30/bitcoin-mania-as-investors-wanting-to-make-a-buck-push-it-above-us11000/