gata.org / By Jemima Kelly and Gertrude Chavez-Dreyfuss via Reuters / December 7, 2017
Bitcoin rocketed to a lifetime high just shy of $16,000 today after climbing some 60 percent over one week, intensifying the debate about whether the cryptocurrency is in a bubble about to burst.
The largest U.S. cryptocurrency exchange struggled to keep up with record traffic as the price surged, with an upcoming launch of the first bitcoin futures contract further fueling investor interest.
Proponents say bitcoin is a good medium of exchange and a way to store value, much like a precious metal. They also argue it is preferable to traditional currencies because it is not subject to central bank manipulation. …
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