{"id":35425,"date":"2017-12-07T14:01:04","date_gmt":"2017-12-07T09:01:04","guid":{"rendered":"https:\/\/tns.world\/?p=35425"},"modified":"2017-12-07T14:01:04","modified_gmt":"2017-12-07T09:01:04","slug":"bitcoin-charges-through-14000-as-investors-pile-in","status":"publish","type":"post","link":"https:\/\/tns.world\/?p=35425","title":{"rendered":"Bitcoin charges through $14,000 as investors pile in"},"content":{"rendered":"

WASHINGTON Dec 07 (TNS):<\/strong> Bitcoin hit a fresh record of $14,000 Thursday as investors piled in, triggering a warning the cryptocurrency was “like a charging train with no brakes” which would inevitably slip back.<\/p>\n

It touched a new a high of $14,400 in Asian trade before slipping back to $13,900, according to Bloomberg News.<\/p>\n

The rally came just a day after the virtual currency, which has been used to buy everything from an ice cream to a pint of beer, hit the $12,000 mark for the first time.<\/p>\n

Bitcoin — which came into being in 2009 as a bit of encrypted software and has no central bank backing it — has risen from a 2017 low of $752 in mid-January, and surged dramatically in the past month.<\/p>\n

The increased interest has been driven by growing acceptance among traditional investors of an innovation once considered the preserve of computer nerds and financial experts.<\/p>\n

US regulators last week cleared the way for Bitcoin futures to trade on major exchanges, including the world’s biggest futures centre the Chicago Mercantile Exchange (CME).<\/p>\n

But some, including the US Federal Reserve, have warned against dabbling in Bitcoin as it could threaten financial stability, and fears of a bubble have increased as the price has soared.<\/p>\n

“Bitcoin now seems like a charging train with no brakes,” said Shane Chanel, from Sydney-based ASR Wealth Advisers. “There is an unfathomable amount of new participants piling into the cryptocurrency market.”<\/p>\n

Bu he warned: “Once the hype slows down, we will most certainly see some sort of correction.”<\/p>\n

Transactions happen when heavily encrypted codes are passed across a computer network.<\/p>\n

Bitcoin and other virtual currencies use blockchain, which records transactions that are updated in real time on an online ledger and maintained by a network of computers.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

WASHINGTON Dec 07 (TNS): Bitcoin hit a fresh record of $14,000 Thursday as investors piled in, triggering a warning the cryptocurrency was “like a charging train with no brakes” which would inevitably slip back. It touched a new a high of $14,400 in Asian trade before slipping back to $13,900, according to Bloomberg News. The […]<\/p>\n","protected":false},"author":1,"featured_media":35426,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59],"tags":[729],"class_list":["post-35425","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/posts\/35425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tns.world\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35425"}],"version-history":[{"count":1,"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/posts\/35425\/revisions"}],"predecessor-version":[{"id":35427,"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/posts\/35425\/revisions\/35427"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tns.world\/index.php?rest_route=\/wp\/v2\/media\/35426"}],"wp:attachment":[{"href":"https:\/\/tns.world\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tns.world\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tns.world\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}