Record bitcoin price swings make Coinbase the most popular iPhone app

Andrew Cummings
December 9, 2017

Bitcoin has had a volatile ride over the past week, with prices for a single coin skyrocketing to as much as $19,500 per coin at one point. At the same time, it was trading at $US14,573 on Bitfinex, based in Taiwan.

That achievement will come as no surprise to many crypto enthusiasts who have long believed that it was only a matter of time until digital currency enjoyed more mainstream awareness and acceptance.

Users of the popular cryptocurrency exchange Coinbase have complained about slow performance and problems logging into their accounts as the price of the digital currency has skyrocketed. Since then, the digital currency's price has more than doubled and Coinbase has experienced a surge in new customer signups. The venue temporarily crashed and continued to suffer from service delays. We've heard the fraud claims.

The price of bitcoin is soaring.

Needless to say, people want in on the action. NY time Wednesday, bitcoin jumped past $15,000, and the day's wild ride began.

We at Coinbase couldn't be more excited by the explosion of interest in digital currencies.

Investors continue to pile into Bitcoin ahead of the launch of futures contracts by CBOE at the weekend in the United States. The addition of bitcoin futures by two respected exchanges marks another step towards establishing the digital currency as a legitimate asset class. Bitcoin's value has seen a boost of 2,000 percent if we take a look back in December 2016.

At the time of writing Bitcoin is fetching US$16,875 according to Coinbase. The Tokyo-based digital currency exchange is the largest in the world by trading volume and announced last week it received a "BitLicense" to operate in NY. JPMorgan Chase CEO Jamie Dimon has called bitcoin a "fraud". Novogratz also predicted last week that bitcoin could reach $40,000 by the end of next year.

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