The value of bitcoin skyrocketed in 2017, and its rapid rise generated huge amounts of interest in it and other types of cryptocurrency.
However, bitcoin is notoriously volatile, and numerous financial experts have advised people not to get involved, fearing this to be a bubble that could burst at any moment.
Recent events have demonstrated just how quickly the situation can change for investors.
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After hitting a record high of more than $19,850 in mid-December, bitcoin’s value tumbled to $12,000 within days. It then surged again, before tumbling in mid-January amid fears that trading could be banned in several countries around the world.
Its price is expected to continue to fluctuate unpredictably, and this live blog will be regularly updated with the latest news and significant changes.
:: The Independent’s bitcoin group is the best place to follow the latest discussions and developments in cryptocurrency. Join for the latest on how people are making money – and how they’re losing it.
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The Independent’s bitcoin group is the best place to follow the latest discussions and developments in cryptocurrency. Join for the latest on how people are making money – and how they’re losing it.