Bitcoin bubble trouble

Author: | Published: 11 Dec 2017

The US dollar value of bitcoin reached over $11,000 on November 29 for the first time in its seven-year history as institutional investors flooded the market. At the time of writing, the level has fluctuated slightly but is still hovering close to that landmark level.

The market has increasingly warmed to bitcoin and to cryptocurrencies more generally over the past few years, in part because it flew under the radar (at least initially) from a regulatory standpoint and operated on a near independent basis. Investors as well as the incumbent financial institutions are all keeping a close eye on the market, with many looking...