$13000 and Rising - The Price of Bitcoin Continues to Climb

Sergio Conner
December 7, 2017

Another day, another bitcoin record. This latest price surge comes at a watershed moment in Bitcoin's history, as it is seeing a marked increase in both interest and acceptance, especially in the financial sector. Is the attention of the mainstream industry proving to give the prices a boost? Despite the warnings from renowned economists and business leaders, its has continued to appreciate in value.

Bitcoin, which is up nearly 1300% this year, was more than halfway toward eclipsing $13000 by late morning, a 7.7% increase on the day, according to the research website CoinDesk.

"Bitcoin now seems like a charging train with no brakes, said Shane Chanel, an adviser at investment services firm ASR Wealth Advisers".

The news came after a civic association preparation committee, led by Kim, mapped out Wednesday the voluntary regulation of cryptocurrency in the nation suffering from a legal vacuum. "And bitcoin is the most vertical of any pattern I've ever seen in my career", he added.

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But a study published this week by Natixis Investment Managers, a major French asset management firm, found that 64% of institutional investors think bitcoin is a bubble.

Additional data from CoinMarketCap.com shows that South Korean exchanges continue to trade well above the rest of the market, with Bithumb, Coinone and Korbit reporting trades above $15,000 at press time.

Bitcoin is one of many cryptocurrencies, virtual "coins" that are "mined" by computers using complex algorithms.

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