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.
The reason Bitcoin price is rising high because it is the law of supply and demand. Remember that there will only 21 Million Bitcoins will ever be made. Then because of social media, too many people start using Bitcoin. With this kind of effect, the market value of Bitcoin will constantly increase.