All the day’s economic and financial news, as City traders look for progress in the Brexit talks - and watch Bitcoin head ever higher
Last night’s price surge was remarkable, even by bitcoin’s recent standards:
$0000 - $1000: 1789 days
* * *
$5000- $6000: 8 days
$6000- $7000: 13 days
$7000- $8000: 14 days
$8000- $9000: 9 days
$9000-$10000: 2 days
$10000-$11000: 1 day
$11000-$12000: 6 days
$12,000-$13,000: 17 hours
$13,000-$14,000: 3 hours
Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.
The pound is under pressure this morning as traders worry that Britain may not get a Brexit breakthrough before Christmas.
If talks do not move on to the next stage of discussions in December then the terms of a transition period will likely be pushed back until the next European council summit of leaders in March, by which time many businesses in the UK will have had to make decisions over their location and investments in the country.
DUP source. “We’re going to slow it all down. This is a battle of who blinks first — and we’ve cut off our eyelids.”https://t.co/JHO4rllO4r
Bitcoin isn"t a bubble, it"s the pin.
Bitcoin is a transaction tool, not a store of value. I
Its price is rising because new entrants are paying more for it (but crucially not to use it) and that"s pumping the value of older participants.
This is - by any definition - a Ponzi scheme.