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Bitcoin has since become the preferred currency not only of libertarians and speculators, but also of criminal hackers
Ban on trading is impossible to enforce
The moves are a watershed for Wall Street professionals who've been eager to bet on cryptocurrencies
It has been a volatile week for the biggest and best-known cryptocurrency
One reason for the up move continuing going ahead, Wood cites in his weekly note GREED & fear, is that the retail participation has just started to kick in
Bitcoin over Thanksgiving weekend has seen major surge with a single unit being traded at more than $10,000
One wealth manager said technical chart analysis was predicting deeper falls
The bank will trade in bitcoin if it becomes more established, he added
One market-watcher attributed the fall to outages in bitcoin exchanges and the heavy price surge of recent times
The cryptocurrency shows wild swings since Wednesday - within hours of crossing the $11,000-mark, plunges nearly 20% to $9,009 in less than 90 minutes, and then rises again to trade above $10,000
Cryptocurrencies are decentralised, meaning that they are issued without a central administering authority
Bitcoin's rapid ascent has led to countless warnings that it has reached bubble territory
Some on Wall Street are embracing the run, with more than 100 hedge funds now dedicated to digital currencies
bitcoin uses encryption and a blockchain database that enables the fast and anonymous transfer of funds