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Buoyant bitcoin stirs crypto-bubble fears

Bitcoin Cash, a clone of bitcoin that was split off from the original last week by a rival group of

Reuters  |  London 

Bitcoin and other "cryptocurrencies" are big money, virtually as big as Goldman Sachs and Royal Bank of Scotland combined. The price of a single bitcoin hit an all-time high of above $3,500 this week, dragging up the value of hundreds of newer, smaller digital rivals in its wake. Now some investors fear a giant crypto-bubble may be about to burst. It has been a year of unprecedented growth for the largely unregulated market, with dozens of new currencies appearing every month in "Initial Coin Offerings" or ICOs. They have achieved value almost instantly, ...

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First Published: Fri, August 11 2017. 01:12 IST
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