Bitcoin smashes record

Bitcoin (Pixabay)

The world’s stock markets struggled for direction Thursday as investors paused for breath, while bitcoin spiked to a dizzying record above $15,000 on frenzied speculative buying, dealers said.

Paris stocks crept 0.2 higher and Frankfurt gained 0.4 percent, but London turned 0.4 percent lower.

Bitcoin (Pixabay) Wall Street rose modestly, with the Dow adding 0.3 percent and the tech-heavy Nasdaq Composite climbing 0.7 percent.
Analysts said investor sentiment was still hamstrung by coming political battles surrounding a US tax reform plan.

Much focus, meanwhile, was on bitcoin which set a fresh record as investors’ jaws dropped at the cryptocurrency’s meteoric rise.

Bitcoin, which is not traded on traditional currency market, powered to a fresh high of $15,969.99, before falling back according to Bloomberg data.

The controversial virtual unit has soared more than 50 percent in just one week, but analysts warn that the snowballing rally could melt in the run-up to Christmas. (AFP)

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Written by Tempo Online

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