Bitcoin bubble: Cryptocurrency hits new $20,000 record high as experts warn of CRASH
BITCOIN has smashed another record high as the controversial cryptocurrency surged past $20,000 today amid bubble crash fears.
By VICKIIE OLIPHANT
Express.co.uk
Sun, Dec 17, 2017
The digital cash shot up in value again today as it doubled the 10,000 dollar milestone it hit in late November.
The cryptocurrency’s staggering recent price rises — more than 1,700 percent 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 percent 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 $17,90o n the Bitstamp exchange.
And just two days later it crossed the threshold of $20,000, adding more than a fifth to its value since Monday.
The rise comes after a recent survey of 53 economists carried out by the Wall Street Journal found that 51 considered bitcoin’s price unsustainable.
While a survey of Wall Street experts and market strategists by CNBC also claimed they saw bitcoin’s rise as a bubble – with many warning it will inevitably burst.
This week, US investor Grant Sabatier – who made almost a million dollars after investing just £3,000 into Bitcoin, warned the currency may be worthless.
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