Value has fluctuated between $55,000 and $70,000 over the past several months, but Donald Trump's victory in the US presidential election has shaken up the market.
AJ Bell analyst Russ Mould told The Guardian just ahead of the election on Tuesday that many investors believed that a Republican win would result in a surge for the cryptocurrency. Nigel Green from financial advisory group deVere said a Trump win could be the catalyst that pushes the digital currency into uncharted territory.