Bitcoin’s worth reached an all-time excessive final week amid a bull run for main cryptocurrencies, days earlier than a ban on gross sales of some cryptoassets to UK retail traders comes into impact.
The worth of a single bitcoin surpassed £17,000 on Friday, and has risen fourfold since March, whereas different cryptocurrencies resembling litecoin, ethereum, XRP and bitcoin money have additionally made positive factors in latest months.
The currencies could be purchased partly or in full through on-line exchanges, and are extremely risky. They’ve been buoyed lately by opportunistic traders who hope bitcoin will grow to be extra mainstream. From subsequent 12 months, for instance, PayPal plans to permit its customers within the US to pay with bitcoin.
From January the Monetary Conduct Authority, the Metropolis regulator, will