httpss://www.youtube.com/watch?v=ZUjEuifWIV4
As soon as bitcoin went through $US10,000, it surged past $US11,000, only to plummet from those lofty levels.
A price of one bitcoin had been roughly $US1,000 at the beginning of the year.
Bitcoin can be converted to cash when deposited into accounts at prices set in online trading.
“The increasing demand pressure from investors and speculators makes the case for an even further increase in bitcoin prices in the near future,” he said.
Neil Wilson, a senior market analyst at ETX Capital in London, says bitcoin is “Following the playbook for a speculative bubble to the letter”.
Wilson says bitcoin could rise a lot further, but says it is merely a question of when, not if, the bubble bursts.