In the latest price spike, Bitcoin saw its its price jump north of $6,000 for the first time, weeks after it crossed the $5,000 figure for the first time.

The currency peaked at $6,067. At the time that this article was written, it is trading at around $6,009.

Not only that, the currency also reached a record valuation of $100 billion for the first time ever in its history.

Bitcoin’s most-recent surge began earlier last week, when the currency saw its price jump thanks to rumors of upcoming support on Amazon.

The move, if passed through, would do wonders to the exposure of the currency and its usability. Whether that happens could be revealed in Amazon’s next investor call set for October 26.

Then there were reports from China, which pointed to a possible loosening of restrictions imposed there.

With the journey hardly ever straightforward for Bitcoin, the softening there could be balanced by further restrictions from Russia (something which shaved $600 from its value earlier this month).

The upcoming hard fork of the currency, which will bring improvements in the quality of transactions and usability, will only bring further excitement in the field.

There are already reports from FundStrat co-founder Tom Lee of the currency reaching a staggering level of $25,000 by the year 2022.

Though he deemed the projected figure conservative in an interview with Business Insider, he has stayed true to his word despite recent mini-crashes the currency has sustained in the face of restrictions brought upon by China.

Lee has arrived at the valuation using the same method, Metcalfe’s Law, that is used to value social networks, deriving the final answer from its number of users. He claims it has worked till now.

Whether the currency’s volatile nature prevents that from happening remains to be seen.

This article originally appeared on ProPakistani and has been reproduced with permission.