Bitcoin's soaring value was down to 'infected' buyers, economists say
by Richard Partington Economics correspondent from Technology | The Guardian on (#3MCAM)
Barclays analysts compare speculation in digital currency to spread of infectious disease
The rise of bitcoin has comparisons with the spread of an infectious disease, according to economists who argue the digital currency may have peaked in value as more consumers become immune to its appeal.
Analysts at Barclays said the soaring value of the digital currency last year, when prices rose by more than 900%, was helped by new buyers being "infected" by the euphoria surrounding bitcoin. The price has since crashed from almost $20,000 before Christmas to less than $7,000.