But what next? A Goldman Sachs investment banker predicted the price of bitcoin would continue to rise in a recent note to clients.

“Whether or not you believe in the merit of investing in cryptocurrencies (you know who you are), real dollars are at work here and warrant watching,” the report said.

However, Sheba Jafari, a technical strategist at Goldman Sachs, warned the bubble could burst and the price could eventually fall back to below $3,000.

But Aaron Lasher, co-founder of Breadwallet, is more optimistic - he predicts the value of bitcoin will keep on rising over the next five years.

“Are cryptos in a bubble? Yes, absolutely,” he told MarketWatch. “Is that a bad thing? Not necessarily.

“The long-term trend is up, however, so past bubbles look less impressive in the rearview mirror.