The transaction volume for bitcoin is predicted to more than triple this year, helped by the prospects of a Donald Trump presidency, according to a market study released this week.

The price of the digital currency could climb in the event of Trump winning the U.S. presidential election, which some market commentators expect to lead to market turmoil.

"If Donald Trump becomes president of the U.S., there is the very real prospect of turmoil on world markets — the Economist Intelligence Unit ranks his presidency within the Top 10 global risks," said Windsor Holden, head of forecasting & consultancy at Juniper Research, in a statement. "However, bitcoin trading would thrive in such an environment, at least until the impact on major fiat currencies becomes clear."