Bitcoin blows past $16,000, alarm bells ring louder

LONDON/NEW YORK (Reuters) – Bitcoin rocketed to a lifetime high well above $16,000 on Thursday after climbing some 67 percent over one week, intensifying the debate about whether the cryptocurrency is in a bubble about to burst.

FILE PHOTO – A Bitcoin logo is displayed at the Bitcoin Center New York City in New York’s financial district in NY, U.S. on July 28, 2015. REUTERS/Brendan McDermid/File Photo

The largest U.S. cryptocurrency exchange struggled to keep up with record traffic as the price surged, with an upcoming launch of the first bitcoin futures contract

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