Bitcoin price – latest updates: Cryptocurrency value holding steady after recent lull

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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 a multitude of financial experts have advised people not to get involved, calling it a bubble that could burst at any moment.

There are now fears that it already has.

Recent events have demonstrated just how quickly the situation can change for investors. 

After hitting a record high of more than $19,850 (£14,214) in mid-December, bitcoin’s value tumbled to $12,000 (£8,630) within days.

It then surged again, before plummeting in mid-January amid reports that trading was about to be banned in several countries around the world. It then stabilised, before plunging at the start of February.

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.

Live Updates

5 hours ago

Bitcoin has gradually climbed in value over the course of this morning to £10,775 (£7,828), up 2.86 per cent on the same time yesterday, according to Coinbase.

12 hours ago

Bitcoin begins the day at $10,500 (£7,630), down 1.97 per cent on this time yesterday, according to Coinbase. The cryptocurrency’s value appears to be holding relatively steady at present.

1 day ago

Coinciding with the rise to prominence of bitcoin and its mid-December value peak, Symantec Intelligence Threat has reported seeing a 1,200 per cent rise in incidents of “cryptojacking” in the UK, in which hackers take over other people’s personal computers for the purpose of secret cryptocurrency mining. Previously requiring the installation of malware, this can now be carried out in-browser.

1 day ago

This afternoon bitcoin is down to $10,496 (£7,599) following that big rise to $11,030 (£7,933) early this morning, according to Coinbase. That’s a small fall of 1.64 per cent compared to the same time yesterday.

1 day ago

Microsoft co-founder Bill Gates has argued that cryptocurrencies “cause death in a fairly direct way” by facilitating the unregulated sale of strong medications online. The influential tech billionaire also said that the anonymous nature of virtual currency transactions were facilitating criminal activity such as money laundering and tax evasion during a Reddit AMA. 

1 day ago

Another high-profile name connected to bitcoin is Apple’s co-founder Steve Wozniak, who yesterday revealed he’d been caught out by a cryptocurrency scam. The consumer electronics legend had seven coins taken from him (now worth $70,000) by a buyer who used a stolen credit card and simply cancelled the outgoing payment, underlining how careful you have to be when trading online.

1 day ago

And, in music news, 50 Cent has confessed he isn’t actually a bitcoin millionaire after all. Reports that he had been paid 700 bitcoins for his work on the 2014 album Animal Ambition were sadly untrue.

1 day ago

Elsewhere in the digital currency realm, The Independent’s Will Gore discusses the bizarre new phenomenon of cryptocurrency strip clubs.

1 day ago

This morning, bitcoin has tumbled in value from an early high of $11,030 (£7,933) at 6.30am to £10,714 (£7,702), according to Coinbase. It’s still up 3.51 per cent on this time yesterday, however.

2 days ago

Bitcoin is currently worth $10,600 (£7,617), according to the Coinbase exchange. Its price has fluctuated unpredictably for days now, with the graph below displaying its rises and falls over the past seven days:

 

2 days ago

In other bitcoin-related news, Craig Wright – an Australian businessman who once claimed to be the cryptocurrency’s mysterious inventor Satoshi Nakamoto – has been accused of stealing $5bn from his late business partner.

2 days ago

After rising sharply to $10,831 (£7,790) at around 2pm this afternoon, bitcoin’s value has begun to climb down again and is currently at $10,690 (£7,690), according to Coinbase. At this point, its value has increased by 4.78 per cent in the last 24 hours.

2 days ago

Coinbase lists bitcoin’s price at $10,300 (£7,374) this morning, only a marginal increase on yesterday and suggesting a degree of relative stability creeping in following its dramatic plunge in the first week of February.

3 days ago

Bitcoin’s value has risen this afternoon to $10,217 (£7,320), up $63.20 (£45.29) or 0.63 per cent in the last hour alone, according to Coinbase.

3 days ago

An 11-year-old boy has written a book on bitcoin as part of a deal with his parents. If Andrew Courey can earn $20m by the time he’s 14, they’ll let him quit school. Early Bird Gets the Bitcoin is a beginner’s guide to cryptocurrencies available to buy as an Amazon e-book.

3 days ago

Meanwhile a cryptocurrency strip club has opened in Las Vegas, allowing customers to pay “secretly” in bitcoin thanks to its dancers being temporarily tattooed with QR codes.

3 days ago

“Newbies” to cryptocurrency investment are learning to enjoy the wild ride that is the crypto-rollercoaster as price fluctuations see digital coins crash, rally and recover again and again, according to Anna Irrera.

3 days ago

Good morning, bitcoin starts the week at $9,405 (£6,697). That’s down 3.47 per cent or $338 (£240) on yesterday, according to Coinbase.

4 days ago

Over the past month, bitcoin’s price has been as high as $11,679 (£8,356) and as low as $6,166 (£4,412).

4 days ago

Bitcoin’s price keeps bobbing up and down. It is currently worth $9,420 (£6,744), according to Coinbase.
 
Yesterday morning, it had been worth more than $10,400, and its value has declined by almost 10 per cent over the past seven days.
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