World

Bitcoin surges above $14,000 to new high

Agency | December 07, 2017 11:22 AM

London: Bitcoin crossed $14,000 on Thursday, surging $2,000 in less than 24 hours, a new record high for the cryptocurrency.

Bitcoin began the year below $1,000 but continues its sharp rise despite warnings of a dangerous bubble, reports the BBC.

It hit the latest milestone during early trading in Asia, according to the website Coindesk.com.

The new record high comes just days before the launch of bitcoin futures on two exchanges, including the world's largest futures exchange, CME.

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

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

A steady stream of about 3,600 new bitcoins are created a day - with about 16.5 million now in circulation from a maximum limit of 21 million.

Have something to say? Post your comment
Must Read
Herbal park to be developed on 4 acres in Dhaipi village, says Punjab forest minister sadhu Singh Dharamsot
Herbal park to be developed on 4 acres in Dhaipi village, says Punjab forest minister sadhu Singh Dharamsot
Education could empower students to become an active partners in nation building - says DC
Education could empower students to become an active partners in nation building - says DC
DC exhorts NRIs to participate in special camp being organized for them at DAC
DC exhorts NRIs to participate in special camp being organized for them at DAC
Dal Khalsa mocks at shifting of Behbal Kalan probe from Faridkot to Ferozepur police
Dal Khalsa mocks at shifting of Behbal Kalan probe from Faridkot to Ferozepur police
DC launches ‘campus to corporate 2018’ app for giving fillip to ‘Ghar Ghar Naukri’ mission
DC launches ‘campus to corporate 2018’ app for giving fillip to ‘Ghar Ghar Naukri’ mission
Sidhu bats for taking Punjab crop to world market
Sidhu bats for taking Punjab crop to world market
Cash snatched from Nakodar  woman
Cash snatched from Nakodar woman
Councilor among four booked for outraging woman’s modesty
Councilor among four booked for outraging woman’s modesty
CA Renu Arora elected as Head Legal Cell of PUCA
CA Renu Arora elected as Head Legal Cell of PUCA
Canadian entrepreneurs call on Rana KP to promote technology of converting garbage to energy in Punjab
Canadian entrepreneurs call on Rana KP to promote technology of converting garbage to energy in Punjab
Bhagwant Mann takes unique initiative, donates three wheeler scooters to differently able people
Bhagwant Mann takes unique initiative, donates three wheeler scooters to differently able people
Sitharaman questions Rahul's presence at Gitanjali Jewels event
Sitharaman questions Rahul's presence at Gitanjali Jewels event