Bitcoin hits new peak, nears $18K

London, December 15 

Bitcoin blasted to another all-time high of almost $18,000 on the Bitstamp exchange on Friday, up 9% on the day, as warnings grew over the risks of investing in the highly volatile and speculative instrument.

The cryptocurrency’s staggering recent price rises — more than 1,700% since the start of the year — have driven worries that the market is a bubble that could burst in spectacular fashion.

Bitcoin has climbed almost 80% so far in December alone, putting it on track for its best month in percentage terms since December 2013. On Friday it reached as high as $17,900 on the Luxembourg-based Bitstamp exchange.

Market-watchers said bitcoin’s price was being lifted by the launch of rival CME Group’s bitcoin futures contracts on Sunday. — Reuters