Bitcoin set a new record, trading at over $23,000, while the US dollar is at its lowest point since April 2018. According to the CoinMarketCap website, which calculates the average of more than 20 exchanges, the cryptocurrency was trading at $23,478.40 as of 09:20 GMT.
The cryptocurrency has gained around 20 percent over the past 24 hours, while Ethereum rose 11 percent, Litecoin over 17 percent, and XRP surged over 23 percent.
The record spike comes just a day after Bitcoin hit the $21,000 mark, which was the highest price for the cryptocurrency since December 2017.
Bitcoin, launched in 2009, was the first cryptocurrency, which uses a decentralised blockchain-based network. At the moment, it reportedly constitutes around 66% of the entire global cryptocurrency market.