Bitcoin prices have climbed more than 80% in the last month, reaching a fresh, all-time high today.

The largest digital currency by market capitalization (market cap) surged to as much as $5,386.23 today, according to the CoinDesk Bitcoin Price Index (BPI).

The currency rose to this level less than a month of plunging below $3,000 and reaching $2,951.15, additional BPI figures show.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Bitcoin’s Sharp Rally

Bitcoin’s price has repeatedly reached new highs this year, pushing higher as the broader cryptocurrency market continues to gather momentum and grow in size.

The total market cap of digital currencies rose to nearly $165 billion early today, more than 800% higher than its figure of $17.7 billion at the start of the year, CoinMarketCap figures show.

As for why Bitcoin prices have surged recently, analysts have pointed to several different factors.