Expert explains theories behind Bitcoin surge...
Bitcoin prices reaches reached £7,529.77 ($10,009) on the CEX trading platform earlier today, before slightly dipping in value.
Since the start of the year, the cryptocurrency has achieved the incredible feat of increasing more than 1,000 per cent in value.
But despite the incredible growth, economists are still apprehensive of the tokens inherent volatility and signs it could be a price bubble.
Just two weeks ago, bitcoin investors took a hit when the tokens prices plummeted over 20 per cent before bouncing back.
There are some factors that states the price bitcoins and these include supply and demand. Most bitcoin investors sell their bitcoins at certain price point that are so high because of the scarcity in the circulation. Just like diamonds, the harder you try to get diamonds, the bigger the price.