Bitcoin More Than Doubles In Price This Year; Investors Caution Needed

While enthusiasts in cryptocurrency are again gaining interest in the token, nonetheless investors' cautiousness is called for even as the currency has hit a 10-month high on Tuesday.

In the previous report, the ongoing Conferences around crypto are sited as one reason for the surge, the true picture is not known in correctness.

And the current rift between the US and China, can also not be another compelling reason for investors' heightened interest and it shall be too early to coin such digital currencies as safe haven similar to gold.

At 16:12 GMT on Tuesday it was up 0.8% at 7,874. And of the various views held on the currency, one of the analysts suggest, "I view bitcoin as a high-risk, high-growth asset - a bet on emerging technology."

Also, the previous prospect of it being used as a mainstream payment mode has been given away with previously.

Nonetheless, while we do not know any clear theory of the high orderly price swings, the market of cryptocurrencies is highly speculative.

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