Bitcoin has hit $10,000 in value for the first time after a 1,000% increase in its worth this year - and it could 'easily' reach $40,000 by 2018

Bitcoins were trading at $10,009 (£7,500) on the CEX IO exchange this morning
One financial expert believes it could 'easily' reach $40,000 (£30,000) by 2018
Experts have warned over the expanding bubble which could burst at any time.
A single Bitcoin has hit $10,000 (£7,500) in value for the first time in the cryptocurrency's history.
The digital money was trading at $10,009 per coin on the CEX IO exchange this morning, before dropping back down below this watershed mark.
Over this past year, Bitcoin has seen its worth increase by 1,000 per cent and it is continuing to attract investment.
One former hedge fund manager believes it could 'easily' reach $40,000 (£30,000) by the end of 2018.
But the dramatic rise has spared fears of a dangerous bubble which could end in huge losses.
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A single Bitcoin has hit $10,000 (£7,500) in value for the first time in the cryptocurrency's history. The digital money was trading at $10,009 per coin on the CEX IO exchange this morning, before dropping back down
Bitcoin has seen a surge of activity in recent weeks, rising in value exponentially.
For comparison, in July 2010, one Bitcoin was worth only $0.08 (6p).
Yet the number of transactions involving the currency have not grown at a similar pace.
This suggests that it is mainly being used as an investment, rather than paying for online shopping or other goods and services.
Former Fortress hedge fund manager Michael Novogratz believes Bitcoin's value could multiply more than four times over the course of the next year.
Speaking to CNBC, he said: 'Bitcoin could be at $40,000 (£30,000) at the end of 2018. It easily could.
'There's a big wave of money coming, not just here but all around the world.'
Bitcoin has seen an eye-watering tenfold increase in its value since the start of the year and financial experts have warned over the expanding bubble.