Bitcoin is trading at its highest price in almost two years, driven by several factors including market conditions in Asia, according to experts in the cryptocurrency.
The online currency ended Monday at around $542.77 and hit a high of $548.5 on Tuesday. The price has surged in the last week, climbing 22 percent since last Monday; year-to-date the price for bitcoin has increased by 25 percent.
As a result, this is the highest price bitcoin has reached since August 2014. CNBC examines three reasons to explain the rising price.