11.41am - Help at hand for Bitcoin holders who have forgotten their passwords

Britain's cash-strapped clairvoyants could be back in business as Bitcoin holders struggle to remember the forgotten passwords needed to access wallets contaning thousands of pounds. 

The Wall Street Journal has reported on a hypnotist in South Carolina now offering to help people recall forgotten passwords or find misplaced storage devices.

Mr Jason Miller charges one bitcoin ($17500) plus 5% of the amount recovered–though he claims that rate is negotiable.

He told the paper: "I’ve developed a collection of techniques that allow people to access older memories or see things they’ve put away in a stashed spot”. 

Bitcoin has an added layer of security by using ‘keys’ to transact and wallets are also typically guarded by complex security codes. There is no central holding for saving or resetting passwords as this would leave wallet holders vulnerable to cyber attack.

There are a large number of early-adopters in Britain who have lost their Bitcoin wallet passwords since 2009. They might to well to look away now as today's price begins to rebound after overnight uncertainty to $£13073.96 ($17514.41).

9.10am - Coinbase support for bitcoin cash update

We'll find out more about the effect of Coinbase's decision to support Bitcoin cash tomorrow after the platform tweeted that buying and selling would likely not be available until Wednesday.

Bitcoin fell on Tuesday after Coinbase, the leading platform for buying and selling bitcoin in the United States, said Tuesday it was rolling out support for bitcoin cash.

Bitcoin cash is a serious competitor to Bitcoin after it split off from the original Bitcoin in Aug 2017 after a group of developers decided to try to improve bitcoin transaction speeds and costs.

8.50am - Bitcoin's 'Banksy' inventor enters top 50 richest people in the world

Bitcoin’s mysterious and anonymous founder was (briefly) the 44th richest person in the world early this week.

Satoshi Nakamoto - who may or may not be a collection of people from the 1980s cypherpunk movement - hit became worth a staggering $19.4 billion putting him, her, or them at 44th spot on Forbes‘s list of the world's richest people.

That amount comes from the mysterious founder’s 980,000 Bitcoins he or she has acquired since the cryptocurrency’s launch in 2009.

8.10am - Bitcoin on the up again after overnight turmoil

Bitcoin starts the day after a sleepless night during which the extent of damage caused by the hacking of a major South Korean exchange was revealed.

The cyber attack forced the Yapian run Youbit exchange to stop all trading and file for bankruptcy after being emptied of its reserves.

A statement on the firm's confrimed that in the early hours of the morning a cyber attack caused a loss of 17 percent of total assets. 

Exposing the critical vulnerability of Bitcoin to cyber crime the attack marks the second on Youbit in only eight months after the exchange was hacked in April.

The company has now released a statement beginning: "I am very sorry to inform you again with the sad news".

Youbit announced that to minimize the damage to our members they will arrange for the withdrawal of approximately 75 percent of their balance and the rest of the unpaid portion will be paid after the final settlement is completed.  

From a low of $15,577.74 in the early hours of the morning, Bitcoin has rebounded to $166656.25, a $1,014.54 drop on yesterday’s closing price.

Wednesday 8am: David Dawkins starts live reporting.

Bitcoin almost hit the $20,000 milestone on Sunday, according to CoinDesk’s price index, after almost tripling in value over the past month. 

The latest price surge comes as the bitcoin futures launches give investors exposure to the bitcoin market via a large, regulated exchange for the first time. 

Coindesk is tracking the latest bitcoin price in real time using the interactive widget below.

Bitcoin opened at $17,608.35, according to CoinDesk. Today’s high is $17,608.35 and today’s low is $15,577.74.

Here are live price updates and the latest bitcoin news. (All times GMT)

Wednesday December 20

6.40am - Bitcoin climbs after continued decline following Bitcoin Cash confusion

Bitcoin is currently valued at $16,241.36 - the cryptocurrency has started to climb back up following a sharp decline after Bitcoin Cash went re-entered the market.

A continued dip saw Bitcoin hit as low as $16,062.15 at 6.30am this morning.

5am: Coinbase halts trading of Bitcoin Cash after confusion causes cryptocurrency to plummet

Coinbase halted the trading of Bitcoin Cash this morning after confusion caused the cryptocurrency to plummet.

Yesterday the trading platform said it was allowing trade of Bitcoin Cash - the confusion that ensued when it entered the market caused a sharp decline in the value of Bitcoin prices that reached as low as $15,643.21.

The dips were described as a “bloodbath” by author Dutch Boyd.

He tweeted: “The last forty minutes on Coinbase was a bloodbath for a lot of people. So much insider trading going on in crypto. Watching the BCH price double right before the Coinbase/GDAX announcement was sickening.”

Following its brief hiatus on the market, Bitcoin Cash will now begin trading again.

Bitcoin has now steadied itself and is sitting at a worth of $16,940.39.

1.46am: Bitcoin has slumped again as the cryptocurrency struggles to stabilise itself following its sharp price decline.

The currency sits at $16,297.08 but has already seen two troughs in the last few hours.

1.20am: Bitcoin recovering after bubble bursts

Bitcoin is currently recovering from a crash that saw the cryptocurrency slump to lower than $16,000.

The downward trend comes after a surge that saw Bitcoin almost hit $20,000.

Wednesday 1am: Joseph Carey starts live reporting.

Tuesday December 19

6.40pm: Will the bitcoin bubble burst in 2018 or thrive past expectations?

Financial columnists Stephen Gandel and David Fickling will join forces later today to discuss the potential outlook for bitcoin’s future in the new year.

They will both appear in a Bloomer Gadfly’s ‘Bitcoin’s Blockbuster Year’ live stream discussion on the official Facebook page at 9pm UK time. Click here to watch it.

Bloomberg Gadfly said: “Will the bitcoin bubble finally pop in 2018? Tune in later today to watch a Gadfly crypto debate with columnists Stephen Gandel and David Fickling.”

6.17pm: North Korea is ‘amassing bitcoin’ warns cyber security expert

After the US Government revealed that North Korea stood behind the crippling WannaCry cyber attack earlier this year, a security analyst has warned North Korea is stockpiling on cryptocurrencies.

CrowdStrike CEO George Kurtz said: "It's an anonymous currency, it can easily bypass any sort of sanctions because there are none on bitcoin, and the value has increased dramatically.

"It's the perfect currency for North Korea to be hoarding."

6.11pm: Bitcoin’s anonymous founder among the richest people in the world 

For a brief moment over the weekend, when bitcoin prices soared to the $20,000 per token mark, bitcoin’s faceless founder Satoshi Nakamoto was the 44th richest person on the planet.

This incredible net worth was derived from the 980,000 tokens he or she has accrued since the token first launched, which based on Sunday’s prices, would have been worth $19.4billion.

The valuation would put Nakamoto behind H&M chairman Stefan Persson and above Theo Albrecht, Jr of Aldi and Trader Joe’s.

The only problem is that no really knows if Satoshi Nakamoto is a real person or a pseudonym used by a single person or group of programmers.

5.06pm: Bitcoin price valuation is 'exceptionally ambiguous,' warns veteran analyst

Robert Shiller, a Nobel Prize winner in Economic Sciences, has warned potential buyers against bitcoin’s valuation.

"I think that the value of bitcoin is exceptionally ambiguous," he said.

"There is the medium of exchange function that it's offering, and there's also a store of value function; that is, you can hide away your wealth in there. And it's mobile; you can go anywhere, and get at it. 

“How valuable is that, though? I don't personally see any value to that. 

“That's the problem; they have a really clever technique to generate something, and it could be valued. 

“But that's why it's especially likely to become a bubble, because when you see people valuing it, you start to wonder, 'Maybe they're right.’”

4.44pm: Bitcoin exchange Youbit files for bankruptcy after hacker strike

South Korean exchange Youbit said on Tuesday that a devastating hacker attack has resulted in the theft of 17 per cent of its total assets.

In a heartfelt statement shared online, Youbit revealed that this was the second attack to cripple the exchange following a similar incident in April.

Due to the theft, all coin and cash withdrawals are suspended as of 7pm local time.

The exchange further said that all bankruptcy payouts will be carried out in accordance with bankruptcy procedures.

4.23pm: Bitcoin is now bigger than silver, claims economist

A former Goldman Sachs economist has claimed that the yearly production of bitcoin has now surpassed that of several crucial metals.

Speaking at a Hedgy Q&A with Keith McCullough, he said: “The annual production of bitcoin is now larger than the silver market, larger than the lead market and we’re approaching zinc. 

“It’s still probably only 10% of the gold market. 

“It’s getting into the levels of value where people are going to be forced to trade this asset class."

3.40pm: Finance regulators advise ‘extreme caution’ when buying bitcoin

Analysts from Singapore’s Central bank have told the public to exercise “extreme caution” when buying cryptocurrencies.

The Monetary Authority of Singapore (MAS) said in an statement on Tuesday that it is “concerned that members of the public may be attracted to invest in cryptocurrencies, such as bitcoin, due to the recent escalation in their prices”.

The statement read: “MAS considers the recent surge in the prices of cryptocurrencies to be driven by speculation.

“The risk of a sharp reduction in prices is high. Investors in cryptocurrencies should be aware that they run the risk of losing all their capital.”

3.05pm: Bitcoin is the ‘most crowded trade’ of the month says Bank of America

A survey by fund managers by Bank of America Merrill Lynch feuding that betting on the rise of bitcoin was the most crowded trade this month.

The popular cryptocurrency skyrocketed from below $1,000 at the start of the year to the its peak price of over $19,000.

Bitcoin’s surge in recent weeks was further aided by its arrival on the CBOE and CME futures markets, boosting confidence in the token.

3pm: Sebastian Kettley takes over live reporting.

11.50am: ING economist believes bitcoin destined to become 'niche asset' again

ING principal economist Teunis Brosens has argued that Bitcoin is destined to return to being a “niche asset” for a select group of enthusiasts. 

In a report, he said: “Our current thinking is this: One day, beyond the hype, Bitcoin will return to being the niche product that it was in its initial years. 

“Users will include tech nerds, people obsessed about their privacy, people afraid of (hyper)inflation in traditional currencies, and people wanting to circumvent central banks for ideological or criminal reasons.” 

10.50am: Bitcoin could become ‘biggest bubble of our lifetime’ 

Cryptocurrency investor Oliver Isaacs believes the cash coin bubble will eventually burst - with devastating consequences for investors.

Speaking exclusively to Express.co.uk, he said: “Personally I think Bitcoin will be the biggest bubble of our lifetime.

“Bitcoin has already reached over $10,000 a coin and it will not be long until Bitcoin valuations and prices continue to rise and spiral out of control.”

10.45am: North Korea targets bitcoin

Analysts have warned that bitcoin boom makes it an attractive target for North Korea, which is struggling under international sanctions imposed over its nuclear weapons programme.

Cristiana Brafman Kittner, principal analyst at the cybersecurity firm FireEye, said she could not confirm whether North Korea had actually stolen any virtual currencies, but said hackers linked to it had targeted "multiple exchanges" over the past six to nine months.

"We believe that some of the criminal activity we are observing originating from North Korea is a result of the regime looking for alternative sources of revenue," she said.

"North Korean cyber threat actors present an immediate risk to the financial services sector worldwide."

10.40am: Bitcoin futures get lukewarm reception on CME exchange 

Bitcoin futures received a lukewarm reception on its first day of trading on the CME exchange and did not surpass Sunday’s record. 

"The introduction (of futures contracts) has added validity, acknowledging bitcoin as a legitimate asset," said Shane Chanel, a fund manager at ASR Wealth Advisers.

"The launch should increase buy-side pressure and potentially be the catalyst that pushes bitcoin above $20,000."

Chicago-based derivatives exchange CBOE launched the futures earlier this month. 

10.10am: Bitcoin reaches high above $19,000 on Monday 

Bitcoin hit a high of 19,227.08 on Monday, up from less than $1,000 at the beginning of 2017, according to CoinDesk. 

10am: Alice Foster starts live reporting.