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Bitcoin price - latest updates: Leading cryptocurrency shoots over $8,000

Andrew Griffin, Anthony Cuthbertson

The value of bitcoin skyrocketed in late 2017 and its rapid rise generated huge amounts of interest in it and the 1,567 other varieties of cryptocurrency available online.

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 - with cryptocurrency exchanges reacting adversely to exterior threats like regulation, cyber-crime and advertising bans.

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 and enduring a rocky start to March.

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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