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Even as warnings grow, Bitcoin rises 9% to hit new record high of $17,900

Bitcoin has climbed more than 77 per cent so far in December alone

Jemima Kelly | Reuters  |  London 

Bitcoin blasted to another all-time high of almost $18,000 on the Bitstamp exchange on Friday, up 9 per cent on the day, as warnings grew over the risks of investing in the highly volatile and speculative instrument. The cryptocurrency's staggering recent price rises -- more than 1,700 per cent 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 per cent so far in December alone, putting it on track for its best month in percentage terms since December 2013. On Friday it ...

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First Published: Sat, December 16 2017. 02:12 IST