Newsflash: Bitcoin Price Breaks $15000, Hits Quarter Trillion Market Cap

(Dow Jones) The price of bitcoin surged above $12,000 early Wednesday morning, the latest milestone in the cryptocurrency's massive rise.

Bitcoin has surpassed its previous record of Dollars 12,000 to USD 13,033 at 04:20 pm on Wednesday, according to the website coinmarketcap.

Bitcoin's moves dwarfed any traditional currency's once again, with the cryptocurrency hitting a new record high of more than $12,500, up nearly 7% on the day.

December 6, 2017, 1:53 p.m. CET Less than 12 hours after it first passed the price of $12,000, Bitcoin is now trading at over $13,000.

At press time, trading data on CoinmarketCap (which factors-in global trading markets with price premiums) shows price reaching above $15,300, a gain of over 18.5% on the day.

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Earlier this week (4 December), it emerged that United Kingdom users may soon face heightened government regulation amid fears the cryptocurrency was used to fund criminals and terrorists. Such as: the bitcoin market cap will erode gold and even sovereign wealth bonds, that it will reach six figures by 2020, and that it is as big a thing as the World Wide Web was in 1995.

Could it be a bubble?

Close to the launch of bitcoin futures by CME Group and other exciting news, the "people's currency" is going through the roof.

That question has become a topic of intense debate for those operating in the financial services industry.

Stephen Roach, Senior Fellow at Yale University, the former Asia Chairman, and Chief Economist at investment bank Morgan Stanley, told CNBC that he was so dubious about investing in bitcoin. I've never seen a chart of a security where the price really has a vertical pattern to it. And bitcoin is the most vertical of any pattern I've ever seen in my career. "Like all bubbles, they burst".

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