Bitcoin prices shot up 15% yesterday and briefly rose above the $5,000 level for the first time since November 201.
The price of Ethereum has also experienced a major surge. Ethereum's digital token ether rose by 10% to above $150, taking it to its highest value since February.
"The bitcoin price crossed the $5,000 mark, touching the highest level since November 2018 in the early hours of Tuesday, London time," chief executive of financial advisory firm deVere Group Nigel Green said.
"All other major cryptocurrencies, including Ethereum, XRP and Litecoin have experienced gains of around 10%. This dramatic jump is likely to attract many investors who have been sitting on the sidelines. In addition, it can be expected to reignite institutional interest," the Independent cited Green as saying.
