A new signpost was added to the insane financial ride known as bitcoin on Friday when Coinbase, arguably the best-known bitcoin broker on the market, sent a warning message to investors: "Please invest responsibly".
Also rising are the places that trade in bitcoin, such as Coinbase, which is said to be the largest digital exchange for buying and selling bitcoin. Such volatility could trigger trading limits in the futures, though many investors speculate the contracts will improve price discovery.
Why all the concern? Bitcoin's value has seen a boost of 2,000 percent if we take a look back in December 2016. One bitcoin was worth $1,000 in January.
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The price of a bitcoin is now resting around $15,000, down almost 11 percent over the past 24 hours, according to Coindesk.
The spot price of bitcoin pared losses after futures began trading in Chicago, ushering in a new era for the cryptocurrency.
The blog also reminded customers that it's important to protect their Coinbase account with two-factor authentication, and that trading volumes are so high that there are times Coinbase might not be available due to technical reasons.
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But, bitcoin has become the "It" thing lately, especially over the last month, as the price of bitcoin has surged to more than $15,000 for a single "coin".
The startup, which is now valued at $1.6 billion - though undoubtedly soon to be worth a whole lot more if current trends continue - had a rough day yesterday as the exchange buckled under the pressure of a particularly hefty day of trading.
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