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The head of the UK’s Financial Conduct Authority (FCA) has a message for anyone thinking about investing in Bitcoin: only invest if you’re prepared to lose your money. In a recent interview, the FCA’s Andrew Bailey cautioned would-be Bitcoin buyers to invest carefully, since the current dramatic price increases for cryptocurrencies like Bitcoin could eventually end.
2017 has been a breakout year for digital currencies, as many of the most popular coins have seen their prices increase to dramatic new heights. That increase in price has generated an unprecedented interest in cryptocurrencies, as media outlets, financial institutions, and government officials around the world have weighed in with analysis, reports, and opinions. Public interest has also been strong, as evidenced by recently-released information from Google.
Liberty Leaf Holdings Ltd. has announced a partnership with BLOX Labs Inc, for the development of a blockchain-based smart contract platform for use in supply chain management within the legalized Cannabis industry. When complete, cannaBLOX will provide the supply chain transparency necessary to gain the trust of regulators.
Two of the world’s largest digital currency exchanges experienced partial service outages on Tuesday, amid increased interest in many of the top cryptocurrencies. In a Twitter announcement, Bitfinex claimed that it was suffering a “heavy” denial-of-service attack. It also confirmed that its API was down. Meanwhile, Coinbase acknowledged that its operations were experiencing a partial system outage.
Monday saw the first full day of BCOE’s Bitcoin futures trading, as prices for the contracts surged throughout the day. The markets were so volatile that the exchange temporarily halted trading on two separate occasions early in the day, with one two-minute trading suspension and then a second halt that lasted for five minutes.
The UK government has reportedly asked its spy service to conduct a review of potential risks related to Bitcoin, according to a report in The Telegraph. The National Cyber Security Centre (NCSC) has been tasked with exploring cryptocurrency technology, learning more about how it works, and identifying potential risks. At the same time, the agency has been asked to evaluate the benefits offered by blockchain technology.
In some quarters, Bitcoin has been referred to as digital gold. Now, thanks to online precious metals retailer APMEX, that digital gold can be used to purchase the real thing. The company recently announced the new payment option in a press release, and has integrated BitPay into its website portal to facilitate the purchases.
Digital currency enthusiasts and outside observers alike have been intently focused on Bitcoin’s volatile price activity over the course of the last several days, as the world’s most well-known cryptocurrency soared to more than $18,000 before declining to around $15,000 earlier today. As Bitcoin was enjoying that record-setting run, the Coinbase mobile app enjoyed another type of milestone on Thursday. As Bloomberg reports:
Bitcoin’s recent price increases continued unabated on Wednesday, as the world’s most well-known digital currency roared to new highs above $14,000. In the last twenty-four hours alone, Bitcoin has repeatedly set new record highs, breaking through the $12K, $13K, and $14K price barriers. The gains increased Bitcoin’s total market capitalization to more than $246 billion.
The Chicago Board Options Exchange (CBOE) announced Monday that it will begin to offer Bitcoin futures trading options to its customers on Sunday evening. The CBOE announcement said that futures trading will launch at 5:00 p.m. CT on December 10 to coincide with the start of Global Trading Hours, with the following day marking the first full day of trading.