Bitcoin surges above $13,000 to the new high

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Bitcoin has climbed above 13 000 $(£9,710; €11,020) to reach a new record, in spite of the warnings of the digital currency’s rapid rise can be a dangerous bubble.

The coin has seen its value double in the last few months in a volatile trip.

His latest accomplishment came after Bitcoin has increased by another $1,000 of value in less than 24 hours.

Spread betting firm CMC Markets said the rise had all the symptoms of a bubble market, “there is no way to know when the bubble will burst”.

What is behind the Bitcoin gold rush?

US regulator approves Bitcoin trading

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What is Bitcoin?

There are two main features of Bitcoin: it is digital and it is considered an alternative currency.

Unlike banknotes or coins in your pocket, it is widely available online.

Secondly, Bitcoin is not printed by the government or the traditional banks.

A small but growing number of companies, including Expedia and Microsoft, accept bitcoins – that function as tokens virtual.

However, the vast majority of users now buy and sell them as a financial investment.

The digital currency’s rapid ascent of $1,000 at the beginning of the year, has the place of honour.

Critics have said that Bitcoin is going through a bubble similar to the internet bubble, while others say that it is on the rise in the price because it is the crossing of the ordinary.

The financial regulators have taken a series of points of view on the state of digital currencies and their risks.

The united KINGDOM, the Financial Conduct Authority has warned investors in September that they could lose their money if they buy digital currency issued by companies, known as “initial coin offerings”.

But last week, a US regulator agreed to let the two traditional exchanges, CME Group and CBOE Global Markets, begin to perform transactions in Bitcoin-related financial contracts.

The announcement of the Commodity Futures Trading Commission (CFTC), it will allow investors to buy and sell “futures” contracts in Bitcoins – an agreement to buy the crypto-currency, for example, in the three months to a certain price, was seen as a turning point for Bitcoin.

Cambridge global Payments, director of global production and the market strategy Karl Schamotta said that the decision was behind the last rally: “The perception of the households in the world that the CME and the CBOE are of give a legitimacy to bitcoin is really what is driving the massive rally here.”

But Leonhard Weese, president of the Association Bitcoin of Hong Kong, said the rise in value of Bitcoin has been “mostly motivated by the fear of missing out and greed”.

Bitcoins are created through a complex computer process known as mining, and then monitored by a network of computers around the world.

A steady stream of about 3,600 new bitcoins are created, a day, about 16.5 million today to the movement from a maximum limit of 21 million.