The world's biggest cryptocurrency reached a high of $107,995 on May 21, but remained between the $106-107k levels during the day, according to data on CoinMarketCap.

According to the CoinSwitch Markets Desk, this is the first time since January that Bitcoin has surged past the $107k level and is 2 per cent away from its all-time high, as bullish momentum intensified.

According to Alankar Saxena, Co-founder and CTO of Mudrex, Bitcoin continues to build momentum, briefly testing the $107,000 level as bulls maintain control.

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