The Bitcoin price jumped over the weekend to reach an all-time high today, reaching $9,700 this morning. That makes it worth more than seven times an ounce of gold. The rise has been fuelled by hedge funds jumping on the bandwagon. The current price as I write is $9,634. Here’s the chart for the last five days: 
Bitcoin’s market cap is now $160 billion, which makes it higher than that of General Electric. The CME Group Inc, the world’s biggest futures exchange, announced today that it will launch a Bitcoin futures contract later this year. A notice on its website said it would be available for trading on December 11, but that was later taken down and a spokewoman said it had been posted “due to an error with the website”. Read more in this Reuters article. ADVFN’s Cryptocurrency page gives you prices for Bitcoin and altcoins. Other Cryptocurrency News
Ethereum has set a new record, with the price of Ether – the digital token used on the Ethereum blockchain – breaking $400. Read more on qz.com. Bitcoin mining is not environmentally friendly - statistics just released show it uses more electricity in a year than the whole of Ireland. Read more in this Guardian article. You can see a graph of the continuing Bitcoin power consumption on the digiconomist website. Bitcoin expert Mikhail Maschchekno of eToro says that Bitcoin will be a safe haven for investors when the stock market suffers its next crash. Read what he has to say in this article on the Coin Telegraph. By contrast, one long-term investor in Bitcoin has just sold half his holding, taking profits. Read why in this Seeking Alpha article. A writer on The Motley Fool says that the only cryptocurrency he’d consider buying is Ethereum. Read why here. There are reports that North Korean Pyongyang University is now offering courses on cryptocurrency. More info in this Bitcoin.com article. Proving that you have to be very careful about who you trust in the world of cryptocurrency, a company called Confido vanished at the weekend, taking investors’ money to the tune of $374,000. Ironically, Confido means “I trust” in Italian. The company appears to have been run by fake people with fictional resumes. Read about it on The Daily Beast. Nvidia, producer of graphics processing units that are the favoured cards of cryptocurrency miners, are benefiting from the popularity of digital cash. Their shares have more than doubled this year, as reported by this Market Watch article. New Book on Cryptocurrencies out now
from Clem Chambers
The CEO of ADVFN, Clem Chambers, has a new book on cryptocurrencies out now. Click here to buy the book from Amazon. Trading Cryptocurrencies: A Beginner’s Guide - Bitcoin, Ethereum, Litecoin is an invaluable guide to making money in cryptocurrencies: how they work, how to invest in them, trading cryptocoins, mining, and the technical details behind them. It is out now for the Kindle, and the paperback version will be published in December. 
Click here to buy the book from Amazon. | 
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