Bitcoin jumped suddenly on Tuesday, following months of relatively low volatility in an asset once known for its wild price swings.

The price of the world's largest cryptocurrency bounced more than 15 percent higher to $4,766 as of 4 p.m. ET Tuesday. That marks its highest level since late November, according to CoinDesk.

Earlier Tuesday, bitcoin briefly touched the $5,000 mark on the Luxembourg-based Bitstamp exchange. The digital asset has added over $14 billion to its market value in the last 24 hours, according to CoinMarketCap.

The reason for the sudden price jump wasn't immediately clear. Other virtual currencies were also higher, with ether and XRP rising 10 and 9 percent, respectively.