Bitcoin soars above $5,500

[Ian]

Bitcoin (a digital cryptocurrency) has reached an all-time high value of just over $5,700 this week, having started the year at less than $1000. More and more people appear to be piling on to the bitcoin train, although it is still widely used as an investment, rather than a true currency.

The Guardian have an article covering some of the recent developments and high-level discussions that will impact Bitcoin in the future:

The cryptocurrency rose by more than 8% to $5,243 having started the year at $966. Bitcoin has soared by more than 750% in the past year and is worth four times as much as an ounce of gold.

But the price has been volatile. The digital currency plunged below $3,000 in mid-September after the Chinese authorities announced a crackdown. Beijing ordered cryptocurrency exchanges to stop trading and block new registrations, due to fears that increasing numbers of consumers piling into the bitcoin market could prompt wider financial problems.

Read the rest here:
https://www.theguardian.com/technology/2017/oct/12/bitcoin-price-5000-cryptocurrency-gold-bubble