Bitcoin juggernaut hits new high of $15000

Lloyd Doyle
December 7, 2017

Bitcoin was trading at Dollars 12,269 at 8:12 AM, according to industry site CoinDesk.

The cryptocurrency continues to astonish investors around the globe by exponential rise in 2017.

At the time of writing, shortly before 5.30 am ET, the price of one bitcoin was listed on Google's bitcoin tracker as $15,130, and on CoinMarketCap as $15,316, with a total market capitalization of $256 billion.

Jamie Dimon, CEO of JPMorgan Chase considered bitcoin as "fraud" and, called people investing in it as "stupid".

Britain and other European Union governments have announced plans to control cryptocurrencies, including bitcoin, due to concerns over their potential use for money laundering and financing terrorism.

He had a critical take on the explosion of buying the world's most popular cryptocurrency. "This is a risky speculative bubble by any shadow or stretch of the imagination".

"This is a toxic concept for investors", Roach told CNBC.

Major exchanges like the CME and CBOE have also legitimized the currency's investment credentials by saying they plan to introduce futures contracts to their respective exchanges, likely further supporting the price. Michael Novogratz, Former Fortress Hedge Fund Manager, estimated that that bitcoin's price would rise at least four time in the coming 13 months.

Wall Street strategist Tom Lee has said that Bitcoin is the "digital gold" for millennials, predicting the digital currency could eventually reach the price of an astounding $100,000.

Other reports by Iphone Fresh

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