As the digital currency surged towards $16,000, Sir Howard Davies suggested it should carry a similarly apocalyptic warning for investors. Bitcoin has increased in value by $4,500 in the space of a week, after surging more than 900% this year. The Guardian recently found little evidence of a wider move for the adoption of the digital currency among shops in the technology hub around Old Street in east London. But closer scrutiny by financial watchdogs could damage the appeal of bitcoin as a currency free of banks, regulators and governments. Analysts at Saxobank estimate it could peak above $60,000 next year, giving the digital currency a total worth of more than $1tn, before crashing to $1,000 by 2019 as regulators introduce greater controls.

Source: The Guardian December 07, 2017 14:56 UTC