Bitcoin has enjoyed a stunning rise this year, drawing increasing attention from mainstream investors.
As I write this at about 11 AM Central Time the price of bitcoin is $12,619 only slightly down from its recent high.
The massive digital currency just keeps on growing and growing despite left and right allegations and news about it being the biggest bubble since the dot-com era; according to reports, the cryptocurrency managed to surge past the $12,000 mark and was seen trading at a whopping $12,201.67.
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.
Bitcoin hits fresh highs, as global markets sink.
Based on speculation alone, experts suggested value was positively impacted by the news.
Other finance wizards are far less optimistic, such as JPMorgan Chase CEO Jamie Dimon, who referred to the currency as a "fraud" that will "eventually blow up".
Bitcoin is notching new heights every couple of days.
For years, bitcoin has been the primary method of paying for illicit goods on the so-called dark web. How long it can ride the wave of good fortune, remains another matter altogether.
However, until we get that update, it appears bitcoin is still on its winning streak.
The rush to buy bitcoin has defied warnings from some analysts about it potentially being a bubble that's ready to pop. Governments across the world still remain skeptical about investing in digital currencies. Economist Stephen Roach, Yale University senior fellow, told CNBC this week (5 December) that cryptocurrency was "a toxic concept for investors".
He said: "This is a risky speculative bubble by any shadow or stretch of the imagination". And bitcoin is the most vertical of any pattern I've ever seen in my career.
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