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Bitcoin price surges above $12000 in record high

Bitcoin price surges above $12000 in record high

"Bitcoin supply grows at a fixed, ever-diminishing inflation rate, while demand has recently come in spikes far greater than the existing supply for sale can absorb, driven in large part by media coverage of all-time new highs day after day".

What you need to know is that due to the current high price of Bitcoin, the investment is ideal for large institutional investors and traders. Likewise, a virtually unregulated market leaves Bitcoin transactions subject to a high risk of fraud, with no recourse for jilted consumers.

The UK Treasury is planning to include bitcoin and other cryptocurrencies under the purview of of the European Union's anti-money laundering and counter-terrorism financing legislation.

This is bad for Bitcoin because its current success largely hinges on its brand name value.

For anyone studying the cryptocurrency market, it is nearly immediately clear that the factors affecting the price of bitcoin are not too different from the ones that influence the prices of most commodities.

What makes Bitcoin attractive as a safe haven?

Regulating the Bitcoin presents several challenges.

Bitcoin is a digital currency that was created in the year 2009.

"I don't know what to make of cryptocurrencies", he said. The Securities and Exchange Commission denied applications to start bitcoin ETFs earlier in the year on the grounds that the cryptocurrency was "unregulated", but Cboe head Ed Tilly said he plans to reapply with the SEC for a bitcoin ETF.

For starters, Bitcoin can easily replace cash. This sentiment reflects that held by many institutions - most are open to the idea of a new type of currency, but are reluctant to engage until the currency is widely regulated.

Bitcoin futures - what could they mean? This encourages use of the currency and will attract new users along with new investors. Due to this, the cryptocurrency will have no value thus it will maintain lower market price making it unsuitable as a long term investment. Ethereum's cryptocurrency, ether, is actually more limited as a usable cryptocurrency than Bitcoin.

A copy of bitcoin standing on PC motherboard is seen in this illustration picture, October 26, 2017.

Dr. Garrick Hileman, a research fellow at the Cambridge Judge Business School and founder of economic news website MacroDigest, told Radio Sputnik that the increased popularity of Bitcoin has caused concern among regulators about how the cryptocurrency may be used.

At the same time, cryptocurrency's unstoppable march into the financial mainstream has seen projects like Ethereum and IOTA accumulate a lot more media coverage. The prospect of bitcoin jumping to $1 million in just over two years is certainly appealing, but under no circumstances should anyone buy bitcoin with money they can't afford to lose, because if it turns out to be a bubble, that's exactly what could happen.

If you are in doubt, talk with a financial expert who has a proven track record.

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