Bitcoin on fire! Breaks above $12000 for the first time

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This news follows a wave of price records that bitcoin has broken over the last few weeks, rapidly moving from $7,000 up to $10,000 in no time at all.

Bitcoin has on Wednesday leapt above the $12,000 mark for the first time.

On the back of strong trading session through the early hours of Thursday (UTC), bitcoin rose to a new all-time high of $15,245 (Coinbase).

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. The CEO of Nordea Bank called bitcoin a "joke" and an "absurd" construction earlier this week, while the head of Denmark's largest pension fund said the currency is "something we basically don't feel comfortable with".

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. This latest price surge comes at a watershed moment in Bitcoin's history, as it is seeing a marked increase in both interest and acceptance, especially in the financial sector.

This could result in a new surge of money into bitcoin.

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.

"This is a toxic concept for investors", said Roach, who has been described by Yale as one of Wall Street's most influential economists. "This is a unsafe speculative bubble by any shadow or stretch of the imagination".

For years, bitcoin has been the primary method of paying for illicit goods on the so-called dark web. I've never seen a chart of a security where the price really has a vertical pattern to it.