Summary: Exuberance about cryptocurrencies has never been higher. The most popular of them, bitcoin, spiked above $19,000 one day in early December, only to tank nearly 18% the following day, ahead of the cryptocurrency futures beginning to trade. At one point, bitcoin's price was up an astonishing 1,500%. So, what exactly is bitcoin and what is behind its meteoric rise? Will cryptocurrencies ever go mainstream? And is it too late - or advisable - to get in? In a three-part interview with UBS Wealth Management Americas On-Air Host Anthony Pastore, two of our leadings strategists demystify the world of cryptocurrencies and discuss the applications of their underlying "blockchain" technology. PART 2: Bitcoin - how it works and what's behind the frenzied activity of late
