The risks of bitcoin trading

The person atop one of cryptocurrency’s most favorite exchanges pleaded with people to invest responsibly.

In a blog post on his site, Coinbase CEO Brian Armstrong sought to “remind customers of some of the risks associated with trading digital currency” — which include wild cost swings.

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The cost of 1 bitcoin soared This kind of week by under $10,000 to more than $17,000 before slumping back down to around $15,000, according to data by CoinDesk, which values bitcoin based on data by four exchanges, including Coinbase.

On Coinbase’s exchange the cost soared past $18,000 at one point.

Armstrong warned in his post on Thursday of which the increased interest in cryptocurrencies, which was punctuated by a stunning bitcoin rally earlier This kind of week, has led to “extreme volatility as well as also stress on our systems.”

Related: What’s driving the bitcoin frenzy?

During the frenzy, Coinbase’s valuation was consistently higher than the CoinDesk index — at one point by a $2,000 margin. Even Saturday afternoon, Coinbase listed the cost of a bitcoin around $15,000, while the CoinDesk hovered around $14,700.

Bitcoin’s rise is usually mind-boggling considering just one year ago of which traded for less than $800. At one point in 2011, of which traded for about three bucks, according to CoinDesk.

Its stunning ascent was driven in large part by increasing attention by mainstream investors. as well as also bitcoin’s valuation has continued to balloon — which has a few sharp dips — despite a smattering of warnings by top economists as well as also business leaders.

Beginning Sunday, investors will be able to trade bitcoin futures via the Chicago Board Options Exchange. as well as also they’ll debut on the Chicago Mercantile Exchange a week later.

–sy88pgw’s Jethro Mullen contributed to This kind of report.

sy88pgw (brand new York) First published December 9, 2017: 5:21 PM ET