Bitcoin surges above $15000 to new high

Bitcoin surges past $15000 because why not

Bitcoin surges past $15000 because why not

The person atop one of cryptocurrency's most popular exchanges pleaded with people to invest responsibly. According to Peter Brandt, a commodities traders, users who bought Bitcoin through Coinbase may have paid more than $2,000 more than what the actual price for the currency was. Coinbase is one of the major cryptocurrency exchanges accounting for a third of bitcoin trading volume.

The price of a single bitcoin soared this week from under $10,000 to more than $17,000 before slumping back down to around $15,000, according to data from CoinDesk, which values bitcoin based on data from four exchanges, including Coinbase.

International Business Times reached out to Coinbase regarding the price difference but did not receive a response at the time of publication.

"It goes without saying that prices have reached a level where sentiment is exhibiting short-term euphoria", said Mark Newton, managing member at in a note to clients. The venue temporarily crashed and continued to suffer from service delays.

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The latest swing higher came as bitcoin topped $12,000 Tuesday night in a rapid recovery from a 20 percent drop last week.

Between 5 and 6 a.m.

The digital currency began the year below $1,000 and its gains have accelerated as investor interest grows.

Beginning Sunday, investors will be able to trade bitcoin futures via the Chicago Board Options Exchange.

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The issues have caused what the site calls "degraded performance" for cryptocurrency traders, making it hard to buy and sell Bitcoin right as the currency was reaching new heights.

At the time of writing Bitcoin is fetching US$16,875 according to Coinbase. JPMorgan Chase Jamie Dimon has called bitcoin a "fraud". That is, in turn, encouraging people to try to get in on the action now, increasing demand for bitcoin, and thus increasing the price. Its content is produced independently of USA TODAY.

Why has the worth of a bitcoin risen so astronomically in the course of hours?

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